Sonnedix Lands EUR 730m Loan for Solar Storage

• Sonnedix secures a €730m refinancing and expansion loan for Southern Europe—fueling hybrid solar-plus-storage projects across France, Italy, Portugal and Spain, including 350+MW in Italy.

Independent power producer Sonnedix has closed a EUR 730 million financing deal to refinance existing debt and fund new solar and energy storage projects in Southern Europe. The loan comes from AIB, CACIB, CIBC, ING, Intesa Sanpaolo, Sabadell, Santander CIB, Societe Generale and UniCredit, supporting Sonnedix’s hybridisation strategy.

The funding will be used across France, Italy, Portugal and Spain, with most allocated to Italy for assets totaling more than 350 MW. The transaction backs 540 MW of solar PV sites and two battery energy storage systems. Sonnedix said it has a 12-GW portfolio, over 4 GW operational capacity, 1 GW under construction and 6 GW in development.

How does Sonnedix’s €730m Southern Europe refinancing and hybrid solar-storage funding expand capacity?

• Refinancing the existing balance sheet with the EUR 730 million package improves cash-flow capacity, freeing funding headroom to pursue additional build-out rather than relying solely on refinancing costs.
  
• The facility is explicitly earmarked not just to roll over earlier debt, but also to finance new-generation solar plus battery projects across Southern Europe, directly increasing total generating capacity.
  
• It supports hybridisation (combining PV generation with battery energy storage), which strengthens the value proposition of new sites by pairing output with grid-responsive storage—helping projects progress toward larger deployments.
  
• Capacity growth is targeted across France, Italy, Portugal and Spain, with Italy receiving the largest share—expanding near-term build volume in a key market.
  
• The financing underpins solar PV capacity of about 540 MW across the funded portfolio, adding substantial new generation capacity to Sonnedix’s Southern Europe footprint.
  
• It also funds two battery energy storage systems, increasing the ability of the new and existing renewable assets to store energy and deliver dispatchable electricity when needed.
  
• By backing projects in both solar and storage, the deal enables a higher “system” capacity increase than standalone solar alone—adding generation plus controllable storage capacity within the same development pipeline.
  
• Rolling existing debt into a new structure can reduce financial friction for ongoing development, supporting continuity of build schedules and enabling faster conversion of pipeline projects into construction.
• The expanded funding aligns with Sonnedix’s broader pipeline scale (a multi-gigawatt portfolio across operational, construction and development stages), supporting further capacity additions as projects move through development.