MADRID, Spain – Sonnedix, the global independent solar power producer (IPP), has announced the completion of a non-recourse financing of thirteen (13) solar photovoltaic plants in Spain, with a total installed capacity of 63 MWp, at a value of EUR 321million.

The financing included long-term bank debt facilities in which CaixaBank and BNP Paribas acted as Global Coordinators, Bookrunners, and Mandated Lead Arrangers. Bankia joined them as Mandated Lead Arranger, and the syndicate of six lenders was completed by Triodos Bank, Abanca, and Liberbank in addition to the three MLAs. CaixaBank, BNP Paribas, Bankia, and Abanca acted as Hedging Banks and Bondholders acted as Facility Agent.

LThe portfolio includes seven plants acquired in 2017-2018, and six additional PV plants acquired this year in recent transactions.

“This transaction highlights the strength of Sonnedix’s relationship with our lending banks as well as our capacity to diversify and expand our pool of lenders and enhance our access to liquidity” said Axel Thiemann, CEO of Sonnedix – “In the current scenario, this is crucial for us, as we keep on expanding our platform in Spain, driving the country’s energy transition forward, and ensuring we become an actor in the Spanish economic recovery”.

Sonnedix currently has over 330MW of operational capacity in Spain and a total controlled capacity of 1.9GW worldwide.

Sonnedix was advised by Watson Farley & Williams (legal documentation) and Riverside (hedging). The lenders were advised by Gómez-Acebo & Pombo (legal documentation), Garrigues and Cuatrecasas (legal and tax due diligence), G-Advisory and Vector Renewables (technical due diligence), Marsh (insurance due diligence), and Deloitte (model audit).

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About Sonnedix

Sonnedix Power Holdings Limited (together with its subsidiaries, Sonnedix) is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally, including over 1GW of photovoltaic power plants in operation, as well as several hundred MW under development, in Italy, France, Spain, USA/Puerto Rico, Chile, South Africa and Japan.

For more information, please visit www.sonnedix.com.

Media contact: comms@sonnedix.com