Sonnedix secures €67M financing for 102MW solar portfolio in Spain and Italy
What's the deal? Independent power producer SonnedixDealroom has a profile for this one. Try Dealroom → has closed a €67M financing deal to fund four solar photovoltaic projects totalling 102MW across Spain and Italy. Six banks — Banco Santander, Banco SabadellDealroom has a profile for this one. Try Dealroom →, BBVADealroom has a profile for this one. Try Dealroom →, RabobankDealroom has a profile for this one. Try Dealroom →, CIBC, and NatWestDealroom has a profile for this one. Try Dealroom → — are backing the deal.
All four projects are currently under construction. In Spain, the 25MW Sonnedix Duquesa plant in the Valencian community is expected to begin operations in the second half of this year and will later add a battery energy storage system.
The three Italian projects — Sonnedix Latina 3 (38MW), Sonnedix Cisterna (21MW), and Sonnedix Cascinetto (18MW) — are part of the company's Dolce Vita portfolio near Rome and in northern Italy.
Why now? The financing sits within an existing Sonnedix platform designed to fund renewable energy construction across multiple European markets, including the UK. Closing across two jurisdictions simultaneously required tight coordination between teams and lenders — something Daniel Machuca, global head of project finance at Sonnedix, called "particularly complex."
Europe's push to accelerate renewable energy deployment and reduce fossil fuel dependence continues to attract bank capital into solar infrastructure.
What could go wrong? Cross-border project finance adds layers of regulatory and currency risk. Construction timelines can slip, and grid connection delays in both Spain and Italy have historically plagued solar developers. The planned battery storage add-on for the Spanish project also introduces technology and integration risk at a later stage.
The signal: Sonnedix's ability to assemble a six-bank syndicate spanning Spanish, Dutch, Canadian, and British lenders for a single cross-border close underscores growing institutional confidence in mid-scale solar infrastructure across southern Europe. Classified as a "breakout" stage company on Dealroom, Sonnedix is scaling beyond pure generation into hybrid solar-plus-storage — a strategic shift that could strengthen its positioning as grid flexibility becomes as valuable as clean kilowatt-hours.
Read more: indexbox.io
