Sonnedix has closed non-recourse refinancing of an 18.17MW portfolio of PV plants in Spain at a total value of €74 million.

The transaction was executed under an existing joint venture with Q-Energy, which manages the Vela Energy portfolio and which co-led the bond issuance.

The financing included fixed rate project bonds. CaixaBank and Deutsche Bank were the global coordinators, mandated lead arrangers and bookrunners for the issue.

The financing was provided by BRIDGE and infrastructure debt funds managed by La Banque Postale Asset Management.

Last week, renewables and storage investment platform Constant Energy acquired 17.5MW of operating ground-mount solar PV assets, a team of developers and operators, and a pipeline of development in Thailand from Sonnedix.

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