Sonnedix closes EUR 250 million Corporate Facility on 18 March, 2019

UK, London – Sonnedix, a global solar independent power producer, has closed a EUR 250 million corporate facility which will retire existing debt and enable further growth acceleration as Sonnedix actively acquires and develops new projects in OECD countries.

The financing was underwritten by three mandated lead arrangers: ING Bank N.V.; Natixis, and Banco Santander S.A., London Branch. The facility comprises a five-year, EUR 175 million term loan and a five-year EUR 75 million revolving credit facility.

Sonnedix currently controls more than 1.6 GW of solar PV capacity, with over 800 MW of operational capacity and 200 MW in construction. Sonnedix, which has grown five-fold in the last four years, has executed in excess of EUR 700 million in project refinancing in the last 12 months.

“We are very pleased with the successful closing of this facility, as it demonstrates Sonnedix’s excellent access to liquidity, support for our strategic focus and the confidence of our banking partners,” said Axel Thiemann, CEO of Sonnedix. “It underscores our long-term commitment to operational excellence and the momentum to expand our portfolio of assets.”

Diederik van den Berg, Managing Director and Global Lead Renewables & Power, ING Wholesale Banking, said “We are delighted to have closed this facility, which complements our already-strong relationship with Sonnedix and shows our confidence in its growth plans. The financing reflects our commitment to providing clients with innovative and collaborative solutions, and further boosts ING’s credentials in delivering a low-carbon economy.”

Emmanuel Gillet-Lagarde, Global Head of Infrastructure Finance, Natixis, said “We are very pleased to support Sonnedix in their global growth plan with this bespoke facility. This financing reflects the strong relationship we have with our client and our willingness to further contribute to their developments in the renewable energy sector with creative and tailor-made solutions.”

Fernando Dominguez de Posada, Executive Director, at Banco Santander, London Branch, said “We are pleased to have successfully closed this facility. We have again delivered value to our clients through an innovative structure providing the required flexibility that Sonnedix will need to develop its pipeline of projects, which is the result of close co-operation with the company. We look forward to further supporting the Sonnedix group with their global development.”

Sonnedix was advised by Norton Rose Fulbright LLP (legal advisor).  The lenders were advised by KPMG (model audit), G-Advisory (technical) and Milbank LLP (legal).


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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.

For more information about Sonnedix, please visit


About ING

ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank’s more than 51,000 employees offer retail and wholesale banking services to customers in over 40 countries.

ING Group shares are listed on the exchanges of Amsterdam (INGA AS, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

Sustainability forms an integral part of ING’s strategy, evidenced by ING’s ranking as a leader in the banks industry group by Sustainalytics. ING Group shares are included in the FTSE4Good index and in the Dow Jones Sustainability Index (Europe and World), where ING is also among the leaders in the banks industry group.


About Natixis

Natixis is the international corporate and investment banking, asset management, insurance and financial services arm of Groupe BPCE, the 2nd-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne.

With more than 18,000 employees, Natixis has a number of areas of expertise that are organized into four main business lines: Asset & Wealth Management, Corporate & Investment Banking, Insurance and Specialized Financial Services.

A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of Groupe BPCE’s banking networks.

(Figures as at December 31, 2018)


About Santander

Banco Santander (SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in Europe and the Americas, and is the largest bank in the euro zone by market capitalization. At the end of 2018, Banco Santander had EUR 981 billion in customer funds (deposits and mutual funds), 144 million customers, 13,000 branches and 200,000 employees. Banco Santander made attributable profit of EUR 7,810 million in 2018, an increase of 18% compared to the previous year.

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