Sonnedix, a global renewable energy company with 12 GW of total capacity, has secured $1.3 billion through a landmark refinancing transaction in Chile. The funding will drive the development of new renewable capacity for Sonnedix Chile, including stand-alone and hybrid storage projects.
The agreement refinances 1GW of operational solar and wind capacity, and also finances 117MW of battery energy storage systems (BESS) currently under construction, offering significant geographical and technological diversification across the country.
The refinancing is supported by a strong portfolio with predictable revenue visibility, underpinned by a diversified mix of investment-grade private PPAs and regulated revenue. This contractual and regulatory foundation provides a resilient platform for growth, enabling Sonnedix Chile to accelerate the development of its renewable energy pipeline.
The transaction is yet another example of Sonnedix's long-term commitment to the energy transition and to growing its renewable energy and storage capabilities.
Axel Thiemann, CEO of Sonnedix, stated: "This record refinancing demonstrates the continued confidence our partners have in our ability to execute at scale and in our commitment to driving long-term, sustainable solutions that support the energy transition. This milestone is a testament to the hard work and exceptional commitment of our teams in Chile, our partners, and our global network."
Daniel Garrido, Managing Director of Sonnedix Chile and Regional Head of Growth for the Americas , stated: "Sonnedix Chile's portfolio continues to strengthen, and this milestone is the latest sign of our growing ambitions for development and hybridization. The financial flexibility unlocked by this transaction will allow us to aim even higher, working together as a single team to find the solutions we need to drive a sustainable future."
The transaction was backed by 7 commercial banks.
- BNPP, Bank of America, Crédit Agricole CIB and Santander acted as Joint Lead Arrangers and Joint Bookrunners.
- BBVA, Goldman Sachs and MUFG participated as Mandated Lead Arrangers.
- Crédit Agricole CIB acted as Hedging Coordinator.
- BNPP acted as Exclusive Financial Advisor and Centrus as Hedging Advisor.
In addition, legal counsel was provided by White & Case (New York) and Morales y Besa (Chile) for Sonnedix, and by A&O Shearman (New York) and Guerrero Olivos (Chile) for the lenders. Aurora Chile acted as Market Advisor, Enertis as Technical Advisor, EY provided tax advisory and model audit services, and Marsh acted as Insurance Advisor.