Watson Farley & Williams (“WFW”) advised global renewable energy producer Sonnedix on a €595m loan granted to it by CaixaBank to refinance the debt of a PV portfolio with an aggregated capacity of circa 154 MW, comprising several existing non-recourse financing transactions, including project bonds.
The deal represents a significant step forward for Sonnedix’s growth strategy and demonstrates the ongoing interest of lenders in high-quality renewable energy assets. Additionally, the structure of the loan provides enhanced adaptability to support upcoming pipeline initiatives.
Sonnedix has been a key player in the renewable energy sector since 2009, boasting over 11 GW of capacity worldwide, along with a development pipeline exceeding 6 GW.
The WFW Madrid Energy team that advised Sonnedix was led by Finance Partner Rodrigo Berasategui, working closely with Senior Associates Antonio Cáneva and Laura Fontán and Associates Diana Palazón and Guzmán Sáez de Retana.
Rodrigo commented: “We are proud to have supported Sonnedix on this important transaction. This refinancing highlights Sonnedix’s leadership in the European renewable energy landscape as well as the strong financing opportunities for well-structured, long-term sustainable infrastructure. We are delighted to play a role in promoting clean energy through complex, high-impact transactions such as this”.
