Watson Farley & Williams (wfw) has advised Sonnedix on the €154.4 million non-recourse financing of a portfolio of 62 Spanish photovoltaic plants with a gross installed capacity of 154 MW.

The financial institutions involved as mandated lead arrangers (MLAs) include ING Bank, Nomura International and Banco Santander. Cajamar joined the MLAs, creating a syndicate of four lenders.

ING Bank and Banco Santander also worked as hedging providers and Banco Santander served as facility agents.

The WFW Madrid Finance team advising Sonnedix was led by partner Rodrigo Berasategui, working closely with senior associate Antonio Cáneva.

“We are proud to advise Sonnedix on yet another transaction which was completed within a tight timeline. As a leader in the renewables sector, Sonnedix opted for WFW given our unrivalled experience and deep knowledge of the market as well as our expertise in sophisticated structured financings. The success of this transaction underlines once again the strength of Spanish renewable assets in these uncertain times.”
Rodrigo Berasategui, partner.