ArcLight Capital Partners’ Acquisition of Solar Power Platform in Puerto Rico

Latham & Watkins represented ArcLight in the transaction.

Sonnedix, the global solar independent power producer, has announced the 100% ownership transfer of its interest in the “Puerto Rico Operation” to ArcLight’s Infinigen renewables platform. The “Puerto Rico Operations” is comprised of two operating solar PV plants – Oriana and Horizon – totaling 73.2MW, and a dedicated operating and asset management team, plus other entities pursuing additional solar and battery energy storage in Puerto Rico. The transaction is expected to close in two stages between December 2021 and March 2022, subject to customary regulatory approvals and closing conditions.

Sonnedix Power Holdings Limited (together with its subsidiaries, Sonnedix) is a global solar Independent Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally, with a total capacity of over 4.7GW, including a development pipeline of more than 2GW.

Arclight Capital Partners, LLC is one of the leading energy infrastructure firms. Founded in 2001, the firm helped pioneer an asset-based approach to investing in the energy sector. ArcLight has invested approximately $25 billion in 113 transactions since inception. 

Latham & Watkins represented ArcLight in the transaction with a corporate team led by New York partner David Allinson (Picture), with New York associates Molly Ryan and Adam Abulawi. Advice was also provided on project development and finance matters by New York partner Warren Lilien, Washington, D.C. partner Tyler Brown, and San Diego counsel Sosi Biricik, with San Diego associate Joanna Gorska and New York associate Deborah Ogali; on tax matters by Bay Area partner Katharine Moir and New York partner Eli Katz, with Boston associate Jeremiah Cowen; on labor, benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum and Los Angeles partner Joe Farrell; on environmental matters by Los Angeles/Washington, D.C. counsel Joshua Marnitz, with Boston associate Sam Scott and Washington, D.C. associate Peter Viola; on antitrust matters by Washington, D.C. partner Farrell Malone and counsel Joseph Simei; and on insurance matters by Los Angeles partner Drew Levin, with Los Angeles associate Harrison White.

Involved fees earner: Adam Abulawi – Latham & Watkins; David Allinson – Latham & Watkins; Sosi Biricik – Latham & Watkins; Tyler Brown – Latham & Watkins; Jeremiah Cowen – Latham & Watkins; Joseph Farrell – Latham & Watkins; Joanna Gorska – Latham & Watkins; Eli Katz – Latham & Watkins; Adam Kestenbaum – Latham & Watkins; Drew Levin – Latham & Watkins; Warren Lilien – Latham & Watkins; Farrell Malone – Latham & Watkins; Joshua Marnitz – Latham & Watkins; Katharine Moir – Latham & Watkins; Deborah Ogali – Latham & Watkins; Molly Ryan – Latham & Watkins; Sam Scott – Latham & Watkins; Joseph Simei – Latham & Watkins; Peter Viola – Latham & Watkins; Harrison White – Latham & Watkins;

Law Firms: Latham & Watkins;

Clients: ArcLight Capital Partners, LLC;