Sonnedix Completes EUR 197 million refinance in Italy

Share

The move will increase Sonnedix’s presence in the Italian market, continuing a lengthy period of new investments for the company, driven by its partnership with JP Morgan Asset Management.

“This refinancing is an important milestone as we deepend our presence in Italy, following several acquisitions in the past 12 months,” says Sonnedix CEO Andreas Mustad. “We have a long term commitment to the Italian market, and look forward to further growth as we move into 2017”.

The financing comes in the forms of long-term bank loans, project bonds and a debt service reserve facility. BRIDGE, SCOR and La Banque Postal Asset Management are providing institutional financing.

Since beginning a partnership with JP Morgan Asset Management in 2014, with the stated aim to “pursue opportunities in the attractive rapidly expanding global solar market”, Sonnedix has more than tripled its global capacity, from 117 MW to more than 353 MW.

Sonnedix has invested more than €600 million in new assets over the past 12 months, including opening the largest pv plant in the Caribbean, and an 86 MW project in South Africa.

JP Morgan recently advised investors to acquire further shares in Sonnedix demonstrating strong confidence in the French based power provider, which still has a pipeline of several hundred MW at various stages of construction and pre construction.

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.