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Sonnedix completes financing of 13 solar PV plants in Spain

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Sonnedix has completed a non-recourse financing of 13 solar photovoltaic plants in Spain, with a total installed capacity of 63 MWp, worth €321 million.

The financing included long-term debt facilities with CaixaBank and BNP Paribas serving as Global Coordinators, Bookrunners, and Mandated Lead Arrangers. Bankia joined them as Mandated Lead Arranger, and in addition to the three MLAs, Triodos Bank, Abanca, and Liberbank formed a syndicate of six lenders.

CaixaBank, BNP Paribas, Bankia, and Abanca served as Facility Agent for Hedging Banks and Bondholders.

The portfolio comprises seven plants purchased in 2017-2018, and six additional photovoltaic plants acquired in recent transactions this year.

“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.

“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.”

Axel Thiemann, CEO of Sonnedix.
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