Renewable energy producer Sonnedix has secured €3.25 billion through two refinancing transactions.
Spain’s CaixaBank provided the first transaction, valued at €750 million, to refinance Sonnedix’s regulated 197 MW 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 1.1 GW portfolio of renewable assets across Spain, Italy, and France, with capacity to expand the facility to include new assets in Europe and the United Kingdom.
Sonnedix said the transactions are the largest and most innovative refinancing initiatives in its history and “will be instrumental in accelerating the growth of its pipeline,” including and hybrid projects and energy storage installations.
“These refinancings optimize our corporate structure, provide additional corporate liquidity and reduce risk,” added Daniel Machuca, Sonnedix’s head of project finance in Europe.
In February, Sonnedix announced a €260 million green loan to finance renewable 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, across Chile, France, Germany, Italy, Japan, Poland, Portugal, Spain, the United States, and the United Kingdom.
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