The facility consists of a five-year, 175 million euro term loan and a five-year 75 million euro revolving credit facility, underwritten by ING Bank N.V.; Natixis, and Banco Santander S.A., London Branch. Sonnedix currently controls more than 1.6 GW of solar PV capacity, with over 800 MW of operational capacity and 200 MW in construction. The company has grown five-fold in the last four years and has conducted in excess of 700 million euros in project refinancing in the last 12 months.
“We are very pleased with the successful closing of this facility, as it demonstrates Sonnedix’s excellent access to liquidity, support for our strategic focus and the confidence of our banking partners,” said Axel Thiemann, CEO of Sonnedix. “It underscores our long-term commitment to operational excellence and the momentum to expand our portfolio of assets.”
Diederik van den Berg, Managing Director and Global Lead Renewables & Power, ING Wholesale Banking added that the financing reflects ING’s commitment to providing clients with innovative and collaborative solutions, and further boosts the company’s credentials in delivering a low-carbon economy.
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