Sonnedix buys 55 MW solar carport portfolio in France

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Independent power producer Sonnedix has purchased 55 MWp of solar capacity at five locations in France from London-based fund manager Glennmont Partners. Law firms Linklaters and CMS Francis Lefebvre advised on the deal.

The projects are solar car park installations at automotive factories at different sites in northern France. Acquisition of the portfolio brings Sonnedix’s cumulative operational PV capacity in France to around 244 MWp, according to an online statement by the company.

“The pace of growth in-country is being mirrored in our other Europe markets, as we actively seek to develop, build and acquire assets across our platform for the long term,” said Axel Thiemann, Sonnedix CEO.

Sonnedix owns more than 1.6 GW of solar worldwide, including more than 800 MW of operational capacity and 200 MW under development. It is active in markets including Japan – where it operates 504 MW of solar – and Chile, where it manages 348.1 MW, according to its website. Last week, Sonnedix revealed it had reached financial close on a JPY14.2 billion ($126.9 million) project financing arrangement with Sumitomo Mitsui Trust Bank for a 36.4 MW solar project in Tottori prefecture, in western Japan.

In March the company closed a €250 million ($283 million) corporate facility to retire debt and facilitate growth, involving ING Bank N.V., Natixis and the London branch of Banco Santander S.A. The arrangement comprised a five-year, €175 million term loan and a five-year €75 million revolving credit facility. Sonnedix also revealed non-recourse debt refinancing of a €28.5 million, 32 MW solar portfolio in southwestern France.