Sonnedix Secures €260m Loan for Italian Solar Expansion

Feb 6, 2024 01:21 PM ET
  • Sonnedix secures €260m green loan for solar power projects in Italy, marking one of the largest financing agreements in the country this year. CEO Axel Thiemann emphasizes the company's commitment to Italy's renewable energy market and the urgent need for energy transition.
Sonnedix Secures €260m Loan for Italian Solar Expansion

Renewable energy company Sonnedix has secured a €260m green loan to finance the construction of two solar power projects in Italy. The loan includes funding for two photovoltaic plants with a combined capacity of 200MW, as well as an acquisition finance line for an operating asset. This deal represents one of the largest solar project financing agreements in the Italian market this year. Sonnedix previously signed a €500m loan facility in December 2023 to finance its renewable energy pipeline in Europe and the UK. The loan was granted by a group of banks including Banco Bilbao Vizcaya Argentaria, CaixaBank, La Banque Postale, and Crédit Agricole Corporate and Investment Bank.

Sonnedix's CEO, Axel Thiemann, stated that Italy has remained a key market for the company since 2010, and this loan will enable them to continue developing their pipeline of over 1.5GW in Italy alone. Thiemann also highlighted the increasing investment in renewable energy infrastructure driven by the urgent need to accelerate the energy transition. Sonnedix has a strong banking relationship and assets in 10 countries, positioning them well to deliver projects quickly and at scale. The company was advised by law firm Ashurst and Riverside Risk Advisors, while the lenders were advised by various firms including Green Horse Legal Advisory and KPMG.

What is the significance of Sonnedix securing a €260m green loan for solar projects in Italy?

  • The €260m green loan secured by Sonnedix for solar projects in Italy is significant for several reasons:
  • It provides financing for the construction of two solar power projects with a combined capacity of 200MW, contributing to the growth of renewable energy infrastructure in Italy.
  • The loan also includes an acquisition finance line for an operating asset, allowing Sonnedix to expand its portfolio and increase its renewable energy generation capacity.
  • This deal represents one of the largest solar project financing agreements in the Italian market this year, indicating the increasing interest and investment in renewable energy in the country.
  • Sonnedix's CEO, Axel Thiemann, emphasized the importance of Italy as a key market for the company, and this loan will enable them to continue developing their pipeline of over 1.5GW in Italy alone.
  • The loan was granted by a group of banks, including Banco Bilbao Vizcaya Argentaria, CaixaBank, La Banque Postale, and Crédit Agricole Corporate and Investment Bank, highlighting the confidence of financial institutions in Sonnedix's projects and the potential of the Italian renewable energy market.
  • Thiemann also highlighted the urgent need to accelerate the energy transition, indicating the significance of financing renewable energy projects to reduce carbon emissions and combat climate change.
  • Sonnedix's strong banking relationship and assets in 10 countries position them well to deliver projects quickly and at scale, contributing to the global transition to clean energy.
  • The company was advised by law firm Ashurst and Riverside Risk Advisors, while the lenders were advised by various firms including Green Horse Legal Advisory and KPMG, demonstrating the involvement of multiple stakeholders in ensuring the success of the loan agreement.
Source:
renews.biz

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