Sonnedix acquired eight operational solar PV plants in Spain totaling 13.3 MW. The assets operate under Spain’s RECORE specific remuneration regime. Deal value was not disclosed. KPMG, Pérez-Llorca, and G-advisory advised the buyer.

The core shift in Spain solar M&A is clear: buyers are placing higher value on regulated, operational assets with predictable cash flows than on early-stage development pipelines. Sonnedix, a private IPP, is expanding in assets where production history, tariff visibility, and technical performance reduce downside risk.

This follows a broader European pattern. Enerdatics’ Q3 2025 analysis shows that Spain remained one of Europe’s active solar M&A markets, while operational solar assets under Spain’s legacy tariff regimes continued to attract premium pricing. Velto Renewables’ agreement to acquire a 260 MW Spanish solar portfolio from Bankinter and Plenium Partners for $1.3B highlights the valuation strength of regulated assets.

Sonnedix’s acquisition also pushes its operational capacity in Spain above 1.3 GW. That scale matters commercially because regulated assets can support portfolio financing, platform optimization, and long-term asset management efficiency.

The signal is that Spain’s secondary solar market is moving toward yield-backed consolidation. Buyers with operating platforms will keep targeting small regulated portfolios that improve cash-flow resilience without adding development risk.

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