Sonnedix to sell its Puerto Rico solar operations to ArcLight

Sonnedix Power Holdings Ltd. agreed to sell its Puerto Rico solar operations to ArcLight Capital Partners LLC's Infinigen renewables platform. Financial terms of the deal were not disclosed.

The Puerto Rico operations include the operational Oriana and Horizon solar photovoltaic plants totaling 73.2 MW, and other entities pursuing additional solar and battery energy storage in the island, according to a Nov. 11 news release.

"After a decade present in Puerto Rico, we have decided to move our operations away from the island to focus on our sustainable growth strategy in other markets in the USA," Sonnedix CEO Axel Thiemann said.

The deal marks the first acquisition by ArcLight's Infinigen renewables platform. The Puerto Rico operations will conduct business under the Infinigen name after deal completion.

The transaction is expected to close in two stages between December 2021 and March 2022, subject to customary regulatory approvals and closing conditions.

Sonnedix tapped DLA Piper as primary legal counsel, while ArcLight hired Latham & Watkins for the same role.