DLA Piper represented Sonnedix, a leading global solar independent power producer (IPP), in the sale of its interest in the “Puerto Rico solar operations” to ArcLight Capital Partners’ Infinigen renewables platform.
The Puerto Rico operations include two operating solar PV plants – Oriana and Horizon – totaling 73.2 megawatts, and a dedicated operating and asset management team, as well as other entities pursuing additional solar and battery energy storage in Puerto Rico. The Puerto Rico operations will conduct business under the Infinigen name post-closing.
The transaction is expected to close in two stages between December 2021 and March 2022, subject to customary regulatory approvals and closing conditions.
“It was a pleasure to bring together our extensive energy sector experience and our market-leading transactional capabilities to advise Sonnedix on this sale,” said Nikos Buxeda, the DLA Piper partner who led the deal team.
In addition to Buxeda, the DLA Piper team advising Sonnedix included Adriana Perez and Manuel López-Zambrana (all of San Juan).
With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 11 consecutive years, according to Mergermarket.
DLA Piper’s Energy sector lawyers advise regulators, the regulated, investors and other industry participants on the implications of the regulatory framework during the planning, development and operational stages of many energy projects and activities. For decades, the firm has represented organizations operating in the sector throughout the world, with a global team serving clients in the power, oil and gas, renewable, nuclear, energy trading, climate change and water markets. In addition to energy companies, the firm’s clients also include project sponsors, corporations, developers, financial institutions, governments, utilities and regulatory bodies.
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