Renewable energy producer Sonnedix has secured €3.25 billion through two refinancing transactions.
Spain’s CaixaBank arranged the first transaction, worth €750 million, to refinance Sonnedix’s 197 MW regulated asset portfolio in Spain. The deal consolidated seven financing rounds into one.
Fifteen commercial lenders and institutional investors handled the second transaction, worth €2.5 billion. This refinancing covers a portfolio of 1.1 GW of renewable assets in Spain, Italy and France, with capacity to expand the facility with new assets in Europe and the UK.
Sonnedix said the transactions are the largest and most innovative refinancing initiatives in its history and will “play an important role in accelerating the growth of its pipeline,” including hybrid projects and energy storage installations.
“These refinancings optimize our corporate structure, provide additional corporate liquidity and reduce risk,” said Daniel Machuca, head of project finance at Sonnedix in Europe.
In February, Sonnedix announced a €260 million green loan to finance sustainable energy projects in Italy.
The company claims to have a total capacity of more than 11 GW of renewable energy projects, including a development pipeline of more than 6 GW, in Chile, France, Germany, Italy, Japan, Poland, Portugal, Spain, the United States and the United Kingdom .
This content is copyrighted and may not be reused. If you would like to collaborate with us and reuse some of our content, please contact: editors@pv-magazine.com.
Popular content
