Sonnedix secures €2 billion in refinancing to fund growth in Europe

The transactions follow the €3.25 billion secured in December 2024 and bolster the financial flexibility and capacity required to scale the company’s multi-technology portfolio, spanning solar, storage, and wind, across Europe.

The first refinancing arrangement, completed in June 2025, was provided by CaixaBank and comprised several non-recourse transactions including project bonds. Valued at €595 million, it refinanced 154 MW in Sonnedix’s regulated Spanish portfolio. Meanwhile, the second transaction, worth €1.37 billion along with an ancillary facility, was completed in July 2025, refinancing 1040 MW of existing and new solar photovoltaic (PV) assets across France, Italy, Poland, Spain, and Portugal.

The deals consolidate 12 separate project financings into two to create a scalable, future-proofed debt platform, which will allow the company to enhance its portfolio through strategic additions and hybridisation, while financing further growth through efficient capital allocation.

A diverse group of 10 credible lenders were involved in the re-financing transactions, including both existing and new partners.

Sonnedix’s CEO, Axel Thiemann, commented: “Sonnedix’s project financing capabilities continue to go from strength to strength, demonstrated by these latest refinancings. As we scale our multi-technology portfolio, our team continues to find smarter, more flexible ways to structure larger, portfolio-level financings to enable us to invest in new growth opportunities, particularly in storage. By unlocking capital through refinancing, we can accelerate the build-out of clean energy projects, making a bigger impact, faster.”

Sonnedix’s CFO, Miguel García Mascuñán, added: “Today’s refinancing transactions are aimed at optimising our capital structure, lowering cost of capital, and reducing risk. They adopt a similar structure to our largest refinancings, announced in December 2024, where we secured €3.25 billion. It’s particularly encouraging to see continued support from our existing banking partners, alongside new institutions. This reflects growing confidence in not only Sonnedix’s growth strategy, but also in the long-term value of well-structured, utility scale renewable energy assets.”

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