Sonnedix Completes €2 Billion Refinancing for European Solar Assets

Spanish power producer Sonnedix has secured €2 billion ($2.35 billion) through two European refinancing transactions. The first transaction, finalized in June 2025, involved €595 million for a 154MW Spanish solar portfolio. The second, completed in July 2025, provided €1.37 billion for refinancing 1,040MW of solar assets across France, Italy, Poland, Spain, and Portugal.

These deals consolidated twelve project finances into two structures. CaixaBank arranged the first transaction, while the second included Bank of China, Crédit Agricole CIB, HSBC, ING, Santander CIB, and Société Générale as lead arrangers.

Sonnedix CFO Miguel García Mascuñá stated the refinancings aim to optimize capital structure and reduce financing costs. This follows the company's $3.4 billion refinancing in late 2024 for 1.3GW of renewable projects.

Sonnedix currently operates over 12GW of capacity with a 7GW development pipeline across ten countries. The company recently commissioned its 150MW Douro solar plant in Portugal and signed a PPA with Spanish rail operator Renfe to supply 420GWh of renewable electricity annually.