Global solar IPP, Sonnedix Group, has acquired Element Power Solar, a fully operational solar PV plant in Carcassonne, France.
The San Francisco Chronicle reports that the 5.4 MW ground-mounted facility has been generating electricity since February 2011 and is expected to generate in excess of 6000 MW per year.
Element Power Solar will continue to manage plant operations through its Element Power Asset Management,a division which presently manages solar and wind assets across Europe.
The strategic acquisition strengthens the operations and development plans of two global players in solar energy.
"We are delighted to be strengthening our French portfolio of already 5 PV power plants with this latest cash-accretive acquisition which reinforces economies of scale across our French portfolio" said Franck Constant, Chairman of Sonnedix.
"This acquisition shows our commitment to our selected markets in the long run and to projects of superior quality such as this one which has been developed, built and managed by Element Power Solar. We will continue to add high quality PV assets to our portfolio".
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