Sonnedix safeguards EUR321m in financing for 63MW solar profile in Spain

Aug 10, 2020 03:28 PM ET
  • Independent power producer Sonnedix has finished EUR321 million (US$ 377.61 million) in non-recourse funding for 13 solar plants in Spain.
Sonnedix safeguards EUR321m in financing for 63MW solar profile in Spain
Image: Sonnedix

With a total installed capability of 63MW, the portfolio consists of seven plants gotten in between 2017 and also 2018, and 6 extra centers purchased this year.

The syndicate of 6 lenders for the financing consisted of CaixaBank, BNP Paribas, Bankia, Triodos Bank, Abanca and also Liberbank.

Sonnedix CEO Axel Thiemann claimed the transaction highlights the firm's capacity to diversify and also broaden its swimming pool of loan providers and boost its accessibility to liquidity.

"In the existing circumstance, this is vital for us, as we go on broadening our system in Spain, driving the country's energy shift ahead, and ensuring we end up being a star in the Spanish financial recovery," he stated.

Sonnedix brought its Spanish solar profile approximately an ability of 330.7 MWp last month after acquiring 22 ground-mounted plants that have actually been operational given that in between 2008 and also 2013. The 74.7 MW Eliantus portfolio was bought from private equity financier JZ International (JZI) as well as Elliott Advisors (UK).

In total amount, Sonnedix has more than 1GW of PV nuclear power plant in operation, in addition to several hundred MW under development.