Portugal investment news - J.P. Morgan Asset Management subsidiary invests in Portugal’s Renewable Energy sector to build its largest solar PV plant in Europe.
J.P. Morgan Asset Management subsidiary Sonnedix has chosen to build its largest solar PV plant in Portugal. The Sonnedix Douro project, that will be located in Viseu in Central Portugal, is expected to be operational by the end of 2024.
The Sonnedix Douro project will have a capacity of 149 MW and will be built by Zagope, one of the largest construction companies in Portugal.
The J.P. Morgan Asset Management investment in Portugal’s renewable energy sector, through the Sonnedix Douro solar plant, will generate around 234.5 GWh of clean energy, that will power 78,000 Portuguese homes and will reduce carbon emissions by 35,000 metric tons annually.
Sonnedix, the J.P. Morgan Asset Management subsidiary, is already operating in the Portuguese renewable energy sector since 2022. According to Axel Thiemann, the CEO of Sonnedix, Portugal is a key market that will help the company become a true leader to achieve the company's energy transition goals, while the company intends to continue to expand its portfolio of renewable energy projects throughout the Iberian Peninsula.
J.P. Morgan Asset Management has more than USD 2.4tn+ in assets under management as of 31 December 2022. Sonnedix ranks as the sixth largest solar PV portfolio in Europe with more than US$5 billion already invested in solar PV projects globally.
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