Independent solar power producer Sonnedix Power Holdings Ltd said today it has completed a EUR-28.5-million (USD 32.3m) non-recourse debt refinancing of a 32-MW solar portfolio in France.
The portfolio consists of three photovoltaic (PV) power plants bought in 2018.
The financing included long-term bank debt and a debt service reserve facility, the company stated in its press release. Local Caisse d’Epargne CEPAC acted as lender and mandated lead arranger. It also served as facility agent and account bank.
As of February 2019, Sonnedix has about 191.5 MW of operational capacity in France. The company also has a 5-MW solar project under construction near Marseille, it noted.
"We continue to actively seek opportunities to expand our platform in France as part of our wider growth strategy," commented Sonnedix CEO Axel Thiemann.