Renewable energy company Sonnedix announced today that it has secured €730 million (USD$840 million) for the refinancing, optimization and construction of renewable energy assets across Southern Europe.
Founded in 2009, London-based renewable energy company Sonnedix develops, builds, owns and operates utility-scale solar, wind and battery storage projects. The company designs and delivers flexible clean energy solutions, including power purchase agreements (PPAs), hedging strategies and hybrid offtake products, to help customers optimize energy costs and support their decarbonization goals.
According to the company, the financing will be allocated across renewable energy assets in France, Italy, Portugal and Spain, including PV plants with a combined capacity of approximately 540MW and two battery energy storage system (BESS) assets. Most of the projects financed will be located in Italy, with a 350MW portfolio, the company said.
Sonnedix said that the new capital will support the company advance its hybridization strategy, develop storage projects alongside its solar PV portfolio, and expand its customer base.
The transaction was formalized with the participation of AIB, CACIB, CIBC, ING, Intesa Sanpaolo, Sabadell, Santander CIB, Societe Generale, and UniCredit.
Axel Thiemann, CEO of Sonnedix, said:
“This financing reflects Sonnedix’s commitment to developing high quality renewable projects in our strategic markets. It follows our recent BESS portfolio acquisition in Italy, and underscores the pace at which we are scaling our storage capabilities across Europe.”
