Sonnedix, the global renewable energy company, has secured a USD 841.19 million financing package to refinance, optimise, and construct assets across four of its core Southern European markets, marking what the company describes as a major milestone in its drive to scale both solar generation and battery storage capacity on the continent.

Scope of the Transaction

The financing, announced on 3 August 2026, covers assets in France, Italy, Portugal, and Spain. It will be allocated across solar photovoltaic plants with a combined capacity of approximately 540MW and two battery energy storage system assets. Italy accounts for the largest portion of the allocated financing, representing more than 350MW of combined capacity within the portfolio.

The deal follows what Sonnedix CEO Axel Thiemann described as a recent BESS portfolio acquisition in Italy, and is intended to reinforce the company's broader hybridisation strategy, an approach that integrates battery storage alongside its solar PV portfolio.

The company said the refinancing of existing assets provides a platform from which to expand that strategy, develop new storage projects, and reach new customers.

Lender Group and Advisory Roles

The transaction was formalised with the participation of nine financial institutions: AIB, CACIB, CIBC, ING, Intesa Sanpaolo, Sabadell, Santander CIB, Societe Generale, and UniCredit. ING acted as ESG coordinator for the deal.

Sonnedix was advised by Crédit Agricole CIB and Santander CIB as co-financial advisors, with A&O Shearman serving as legal counsel. Centrus acted as hedging advisor, Aurora Energy Research provided energy market analytics, and Bondholders served as agent and security agent.

On the lender side, White & Case acted as legal advisor, with DNV serving as technical advisor. Watson Farley & Williams provided legal advice on Italian and French legal due diligence, while Morais Leitão handled Portuguese legal due diligence. EY served as tax and model auditor.

Executive Commentary

Axel Thiemann, CEO of Sonnedix, said the financing reflects the company's commitment to developing high-quality renewable projects in its strategic markets. "It follows our recent BESS portfolio acquisition in Italy, and underscores the pace at which we are scaling our storage capabilities across Europe," he said.

Miguel A. García Mascuñán, CFO of Sonnedix, described the USD 841.19 million financing as offering significant financial flexibility and capacity to accelerate the company's development pipeline. "This also reflects the continued trust and confidence of our partners, and we are proud to continue building on these relationships," he said.

Sonnedix's Current Portfolio and Operational Footprint

Sonnedix currently holds a total portfolio capacity of 12GW, which includes more than 1GW under construction, 4GW in operation, and a development pipeline of 6 GW.

The company describes itself as having nearly two decades of sustained growth and operates across Chile, France, Germany, Italy, Japan, Poland, Portugal, Spain, and the United Kingdom. It continues to expand its global footprint across OECD countries through both acquisitions and greenfield development.

The company's portfolio spans solar, wind, and storage assets, with its stated mission centred on delivering 100% clean electricity directly to customers through long-term project development, acquisition, construction, and operations.

Strategic Context

The transaction is positioned by Sonnedix as reinforcing its growing momentum across Southern Europe, particularly in relation to integrating battery storage solutions across its asset base.

The company said the deal strengthens the flexibility, resilience, and value of its renewable energy platform. By pairing solar PV refinancing with the inclusion of two BESS assets in the same financing structure, Sonnedix is advancing a hybridisation model that combines generation and storage under a single financial and operational framework.

The involvement of nine lenders across the transaction, including major European and international institutions, signals continued appetite from the banking sector for large-scale renewable energy financings in Southern Europe, particularly those incorporating storage components alongside established generation assets.

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