March 18 (Renewables Now) - Independent solar power producer Sonnedix Power Holdings Ltd said today it has closed a EUR-250-million (USD 284m) corporate facility that will help retire existing debt and allow the company to speed up its growth.
The fresh funds were underwritten by ING Bank NV, Natixis (EPA:KN) and the London branch of Banco Santander SA (BME:SAN). The financing includes a EUR-175-million term loan and a EUR-75-million revolving credit line, both with a term of five years.
The company has executed project refinancing in excess EUR 700 million in the last 12 months.
Sonnedix has a portfolio of solar photovoltaic (PV) assets that exceeds 1.6 GW, including more than 800 MW of operational capacity and 200 MW of plants under construction. The company noted it actively acquires and develops new projects in OECD countries.
(EUR 1.0 = USD 1.135)