The refinancing is underpinned by a portfolio delivering predictable revenue visibility through a combination of investment-grade private power purchase agreements and regulated income streams. This contractual structure provides stable cash flow projections that support the company’s plans to accelerate development of standalone battery storage facilities and hybrid projects combining storage with solar or wind generation. BNP Paribas acted as exclusive financial adviser to Sonnedix, while Crédit Agricole CIB coordinated hedging arrangements. Legal counsel came from White & Case on New York law and Morales y Besa on Chilean law. The lending group received advice from A&O Shearman and Guerrero Olivos on New York and Chilean law respectively.
Sonnedix’s Chilean portfolio includes the 171 MW Atacama Solar facility, the 160 MW Meseta de los Andes project developed with Cox Energy, and four plants totaling 416 MW acquired from Enel Chile in 2023. The company entered Chile’s wind market in 2022 through the acquisition of Arco, a platform encompassing 290 MW of solar and wind projects. The 117 MW of battery storage under construction referenced in the refinancing aligns with the Sonnedix Librillo project, a standalone BESS facility announced in April with 643.8 MWh of capacity scheduled for commissioning in April 2027. That project secured three PPAs with Copec EMOAC structured around the system’s ability to shift energy to time periods without solar generation.
The transaction provides Sonnedix with capital to pursue additional storage and hybridization opportunities within Chile’s electricity market. The company maintains a global portfolio approaching 12 GW, with more than 5 GW operational, over 1 GW under construction and more than 5 GW in development across Chile, France, Italy, Poland, Portugal, Spain and the United Kingdom.
This article was curated and published as part of our South American energy market coverage.
