• Sonnedix has secured approximately $841 million to refinance, optimise and construct renewable energy assets across four European markets.
• The financing covers about 540MW of solar capacity and two battery energy storage system projects.
• Italy receives the largest allocation, covering assets with more than 350MW of combined capacity.

Sonnedix has closed an approximately $841 million financing package to expand and strengthen its renewable energy portfolio across Southern Europe.

The transaction will support the refinancing, optimisation and construction of assets in France, Italy, Portugal and Spain. It covers solar photovoltaic plants with a combined capacity of about 540MW, alongside two battery energy storage system projects.

For Sonnedix, the financing provides capital for near-term development while creating a platform for further investment in hybrid renewable assets. The company intends to combine solar generation with storage to improve flexibility and increase the commercial value of its portfolio.

Italy receives largest financing allocation

Italy accounts for the largest portion of the financing. The allocated assets in the country have a combined capacity exceeding 350MW.

The focus on Italy follows Sonnedix’s recent acquisition of a battery storage portfolio in the market. That transaction strengthened its position in one of Europe’s most active storage markets.

Italy is expanding its renewable energy capacity as it works to reduce reliance on fossil fuels. However, increasing volumes of variable solar and wind power have raised demand for flexible grid infrastructure.

Battery systems can store surplus electricity and release it when demand rises. They can also help manage congestion and reduce pressure on transmission networks.

Sonnedix plans to use the refinancing platform to develop storage projects alongside its existing solar assets. The approach is expected to help the company reach new customers and offer more flexible energy products.

Nine banks back the transaction

The transaction includes the participation of AIB, CACIB, CIBC, ING, Intesa Sanpaolo, Sabadell, Santander CIB, Societe Generale and UniCredit.

The size of the lending group reflects growing bank interest in renewable infrastructure with operating assets and visible development pipelines. It also highlights the role of diversified financing structures in supporting large portfolios across several jurisdictions.

Cross-border transactions can create additional complexity for lenders and developers. Each market has different regulatory regimes, power prices and grid connection procedures.

By grouping assets across France, Italy, Portugal and Spain, Sonnedix can spread market risk while using a single financing framework. The structure may also allow capital to be deployed more efficiently across projects at different development stages.

Sonnedix currently manages 12GW of total capacity. The financing will support continued growth across several of its core European markets.

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Axel Thiemann, CEO of Sonnedix, said: “This financing reflects Sonnedix’s commitment to developing high quality renewable projects in our strategic markets. It follows our recent BESS portfolio acquisition in Italy, and underscores the pace at which we are scaling our storage capabilities across Europe.”

Miguel A. García Mascuñán, CFO of Sonnedix said: “A €730 million financing is a major milestone for Sonnedix, offering significant financial flexibility and capacity to accelerate our development pipeline across core markets. This also reflects the continued trust and confidence of our partners, and we are proud to continue building on these relationships.”

The amount cited in García Mascuñán’s original statement is equivalent to approximately $841 million at current exchange rates.

Storage becomes central to renewable investment

The inclusion of battery assets reflects a broader change in renewable energy financing. Investors and lenders are increasingly assessing how projects will manage intermittency, grid constraints and volatile electricity prices.

Solar projects that include storage can shift electricity delivery to periods of higher demand. This can improve revenue stability and reduce exposure to low or negative power prices.

Hybrid projects may also become more attractive to corporate buyers seeking reliable renewable power. Companies with emissions targets need clean electricity, but they also require predictable supply and credible contractual structures.

For developers, storage creates additional revenue opportunities. These can include energy trading, capacity services and support for grid operators.

The financing gives Sonnedix greater flexibility to pursue these opportunities across multiple European markets. It also provides capital for expanding a development pipeline that combines generation and storage.

As Europe adds more renewable capacity, access to grid infrastructure and flexible energy systems will become more important. Sonnedix’s financing shows how large renewable platforms are preparing for that shift.

The transaction also demonstrates how commercial banks are supporting Europe’s energy transition beyond stand-alone solar projects. Increasingly, capital is moving toward portfolios designed to provide both clean electricity and system flexibility.