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Sonnedix and HSH Nordbank have announced the financial closing of its long-term non-recourse 24MW ground-mounted project for €90 million. Announced in July, the Toul 3 solar plant is located near Nancy in north-eastern France. This plant is one of three adjacent solar plants forming the 115MW Toul-Rosieres solar park, claimed to be the largest in Europe to date. Toul 3 started producing solar generated electricity this summer, claimed to be adding in excess of 26GWh per year.
“We were very pleased with our experience in working with HSH on this project financing. This is one of the largest solar project financing in Europe this year. We look forward to continued cooperation with HSH in other large projects in the near future,” said Franck Constant, chairman of Sonnedix.
“The financing of Toul 3 represents an achievement for HSH Nordbank which gave us the opportunity to demonstrate our strong commitment towards key European renewable projects and this despite the current challenges among financial markets”, said Romain PETEUIL, senior VP renewable energy with HSH.
The advisors of the transaction include:
Legal: Linklaters advised the sponsor and Norton Rose advised the Lend
Technical: Squrr Energy
Financial model advisor: Green Giraffe Energy Bankers
Insurance: Filhet Allard and Audit Auxalis