Sonnedix, the global renewable energy company, has secured USD 1.3 billion through a refinancing transaction in Chile, the largest and most innovative refinancing the company has undertaken in the country to date. The deal, announced on 10 September 2026, refinances 1GW of operational solar and wind capacity while simultaneously financing 117MW of battery energy storage systems currently under construction.

Deal Structure and Scale

The transaction was supported by seven commercial banks, with BNP Paribas, Bank of America, Crédit Agricole CIB, and Santander acting as Joint Lead Arrangers and Joint Bookrunners.

BBVA, Goldman Sachs, and MUFG participated as Mandated Lead Arrangers. Crédit Agricole CIB served as Hedging Coordinator, while BNP Paribas acted as Financial Advisor and Centrus as Hedging Advisor.

Legal counsel was provided by White & Case under New York law and Morales y Besa under Chilean law on behalf of Sonnedix. The lenders were advised by A&O Shearman under New York law and Guerrero Olivos under Chilean law. Aurora Chile served as Market Advisor, Enertis as Technical Advisor, EY provided tax and modeling services, and Marsh acted as Insurance Advisor.

The refinancing covers operational assets spread across Chile, offering what the company described as significant geographic and technological diversification across the country. The 117 MW of BESS being financed through the transaction is currently under construction.

Revenue Foundation and Contractual Backing

Sonnedix stated that the refinancing is underpinned by a portfolio supported by a diversified mix of investment-grade private power purchase agreements and regulated revenues.

The company said this contractual and regulatory foundation provides what it described as strong and predictable revenue visibility, which in turn creates a resilient platform for further growth in the Chilean market.

The company indicated that this structure gives Sonnedix Chile the financial flexibility to accelerate the development of its renewable energy pipeline, including additional energy storage and hybrid projects.

Strategic Intent in Chile

Sonnedix described the transaction as strengthening its platform to expand power marketing, accelerate hybridisation, and deliver integrated clean energy solutions across Chile.

The company framed the deal as consistent with its long-term commitment to the energy transition and its ambition to grow renewable energy and storage capabilities in the markets where it operates.

Miguel A. García Mascuñán, Chief Financial Officer at Sonnedix, said the deal provides the flexibility needed to keep moving at pace. "With a stronger financial base in place, Sonnedix Chile can focus resources on new storage and hybrid projects, and keep building on the momentum we've created in the country," he said.

Axel Thiemann, CEO of Sonnedix, described the refinancing as a record transaction for the company and said it demonstrates the confidence of partners in Sonnedix's ability to execute at scale. "This milestone is a testament to the hard work and exceptional commitment of our Chilean teams, our partners, and our global network," Thiemann said.

Sonnedix's Global Position

Sonnedix currently holds a total portfolio capacity of nearly 12GW. Of that, 5GW is in operation, more than 1GW is under construction, and the company maintains a development pipeline of over 5GW.

The company operates across Chile, France, Italy, Poland, Portugal, Spain, and the United Kingdom, and describes itself as continuing to expand its global footprint across OECD countries through both acquisitions and greenfield development.

The company offers solar, wind, and storage assets and states that it delivers 100% clean electricity directly to its customers. Sonnedix has been active in the renewable energy sector for nearly two decades.

The Chilean refinancing represents one of the more substantial single-country financing transactions in the company's history and signals continued appetite among major commercial banks for large-scale renewable energy debt in Latin American markets.

The participation of institutions including Goldman Sachs, Bank of America, and BNP Paribas alongside regional players such as BBVA and Santander underscores the breadth of banking interest the transaction attracted.

The 117MW of battery storage being financed forms part of a broader push by Sonnedix to hybridise its existing solar and wind assets in Chile, integrating storage capacity to improve the dispatchability and commercial value of its generation portfolio. The company said the refinancing will enable it to accelerate that programme alongside the development of new projects across the country.

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