Sonnedix financed (Eur 152 mm) a 106 MW greenfield/brownfield photovoltaic portfolio with ING and Siemens

In April 2025, Valecap acted as advised Sonnedix in the structuring of a multi-tranche no-recourse project financing facility to support the construction and refinancing of a 106 MW portfolio, composed of +15 plants located in Italy.

Sonnedix is a global Independent Power Producer (IPP) specializing in the development, construction, ownership, and operation of solar photovoltaic plants. The company is backed by JP Morgan Asset Management and operates across more than 10 countries with over 500 employees, delivering reliable, low-carbon energy solutions. With over 9 GW of total capacity, Sonnedix continues to expand its renewable energy portfolio, driving the transition to a sustainable future.

The portfolio is characterized by a diversified revenue profile, including multiple incentive schemes, power purchase agreements (PPAs), and merchant market exposure.

The complete financing package, provided by ING and Siemens, includes multiple facilities, such as senior capex facilities, refinancing lines, standard ancillary facilities, and guarantee instruments.

ValeCap acted as exclusive model advisor to Sonnedix.