July 31 (Solar) – Independent solar power producer Sonnedix Power Holdings Ltd said today it has completed EUR 157.8 million (USD 185.2m) non-recourse debt refinancing of a solar portfolio in Italy.
The portfolio consists of 23 solar power plants with a combined capacity of 47.3 MW.
"This is an important milestone in our strategy for Italy as we structure the portfolio for its long-term operation," commented Sonnedix chief executive Andreas Mustad.
The financing included long-term bank debt and a debt service reserve facility, the company said. UBI Banca SpA, Banco Santander SA, Milan Branch and Natixis SA, Milan Branch acted as lender and mandated lead arranger. UBI Banca also served as facility agent and account bank.
As of April 2018, Sonnedix has about 707 MW of operational or mechanically complete capacity and around 807 MW under construction and documentation. Overall, the company has more than 160 plants in operation, construction or planning across eight countries.
(EUR 1 = USD 1.173)