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Squire Patton Boggs advised international renewable energy producer Sonedix in November on its acquisition of a 300MW UK portfolio of five solar projects from Lightsource BP.
It is intended that the portfolio will be operational in 2024 and will provide Sonedix with the opportunity to significantly increase its presence in the UK market by serving as a hub to support its global and European presence. The projects are expected to generate approximately 300GWh of clean energy during the first year of operation (about 84,500 households are powered, avoiding over 57,000 metric tons of CO2 emissions per year). With this acquisition, Sonedix will reach around 500MWp of regulated capacity in the UK with ambitions to increase its operational presence and accelerate its growth trajectory to make the UK one of its key markets in Europe.
Trevor Ingle, global head of energy at Squire Patton Boggs, commented, “We are delighted to support Sonedics in a strategically important transaction by enhancing their UK presence. We are currently seeing unprecedented levels of activity across the renewables sector and this is the type of multinational energy client that we are ideally placed to support in our international offices. It was a pleasure to work with the Sonedix team.”
Square Patton Boggs worked on the transaction in conjunction with Sonadex’s in-house legal team.
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