Solar developer Sonnedix has closed long-term project financing of 96 million ($130.5 million) for two solar plants in operation at Istres and Saint Martin de Crau in southern France.
Germany’s HSH Nordbank AG is providing debt financing for the plants, which have a combined capacity of 23.5 MW and will provide power to an area of France with high irradiation and limited power reserves.
"We have been strengthening our European base while developing projects in new markets. Were very pleased to continue and deepen our partnership with HSH on this project," said Sonnedix President Franck Constant.
Sonnedix is expected to continue relationship with HSH Nordbank on other solar projects in the near future.
With the Istres and Saint Martin de Crau projects, Sonnedixs European solar portfolio is producing in excess of 36 gigwatt hours a year.
Romain Peteuil, HSH Nordbank’s senior vice president, Renewable Energy, said the financing of the two solar plants represented "one of our flagship transactions and our largest PV deal in Europe for 2013. We’re once again very delighted to strengthen our strategic partnership with Sonnedix."