Sonnedix Chile Secures $1.3 Billion Refinancing, Covering 1GW of Wind and Solar Capacity

en.Wedoany.com Reported - Independent power producer (IPP) Sonnedix has secured $1.3 billion in refinancing in Chile. The funds cover 1GW of operational solar PV and wind capacity, while also financing a 117MW battery energy storage system (BESS) currently under construction. Sonnedix said this is the company's largest refinancing in Chile to date.

The refinancing covers assets across Chile and is supported by a portfolio of investment-grade private power purchase agreements (PPAs) and regulated revenues. Sonnedix said the funds will be used to expand its renewable energy and energy storage project pipeline.

Sonnedix CEO Axel Thiemann said the refinancing set a record scale for the company in Chile, demonstrating that partners still believe in the company's ability to execute at scale and to advance sustainable long-term solutions that support the energy transition. He said the achievement reflects the dedication and efforts of the Chilean team, partners, and global network.

The company said the financing will also drive further development of renewable energy, energy storage, and hybrid projects in Chile, and expand its power marketing business. Recently, Sonnedix secured an additional €730 million ($841 million) to refinance, optimize, and build renewable energy assets in Southern Europe; that financing covers 540MW of solar PV capacity and two BESS projects in France, Italy, Portugal, and Spain.

Sonnedix's solar portfolio in Chile has reached gigawatt scale, with the Sonnedix Atacama and Meseta de los Andes projects having installed capacities of 170MW and 160MW, respectively. In 2023, the company acquired 416MW of solar assets from Enel Chile, expanding its market position; currently, its solar portfolio is adding large-scale energy storage.

On the regional business front, Sonnedix signed a power purchase agreement for a 644MWh BESS and separately signed a 643.8MWh supply agreement with Sungrow.

Sonnedix's global footprint covers France, Germany, Italy, Japan, Poland, Portugal, Spain, and the UK. Outside Chile, it has a 12GW portfolio, of which more than 4GW is operational, more than 1GW is under construction, and another 6GW is in the development pipeline.