Independent power producer (IPP) Sonnedix has secured a US$1.3 billion refinancing in Chile, covering 1GW of operational solar PV and wind capacity and financing 117MW of battery energy storage systems (BESS) that are currently under construction.
The transaction is the company’s largest refinancing in Chile to date and will support the expansion of its renewable energy and storage pipeline.
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The refinancing covers assets across Chile and is backed by a combination of investment-grade private power purchase agreements (PPAs) and regulated revenues.
Axel Thiemann, CEO of Sonnedix, said: “This record refinancing demonstrates the ongoing confidence our partners have in our ability to execute at scale, and in our commitment to driving sustainable, long-term solutions that support the energy transition. This milestone is a testament to the hard work and exceptional commitment of our Chilean teams, our partners and our global network.”
Sonnedix said the financing will support further development of renewable energy, storage and hybrid projects in the country, as well as the expansion of its power marketing activities.
Recently, the IPP secured €730 million (US$841 million) to refinance, optimise and construct renewable energy assets across Southern Europe. The financing covers 540MW of solar PV capacity and two BESS projects across France, Italy, Portugal and Spain.
Sonnedix has a gigawatt-scale solar portfolio in Chile, including the 170MW Sonnedix Atacama and 160MW Meseta de los Andes projects. Its 2023 acquisition of 416MW of Enel Chile solar assets further expanded its position in the market, while the company is now adding large-scale storage to its solar portfolio.
In the region, Sonnedix has also signed PPAs for 644MWh of BESS and agreed a 643.8MWh supply deal with Sungrow.
Apart from Chile, the company has a 12GW global portfolio, comprising more than 4GW in operation, over 1GW under construction and a 6GW development pipeline, with operations spanning France, Germany, Italy, Japan, Poland, Portugal, Spain and the UK.
