Sonnedix has agreed a €28.5m refinancing of a 32MW solar portfolio in south-west France with banking group Caisse d’Epargne CEPAC.

The global solar power producer said the debt refinancing of the portfolio of three photovoltaic (PV) plants, included long-term bank debt and a debt service reserve facility.

Sonnedix said the portfolio was acquired in 2018, as part of Sonnedix’s growth trajectory in France. The company has a total in-country operating capacity of 191.5MW.

Axel Thiemann, the CEO of Sonnedix, said: “We continue to actively seek opportunities to expand our platform in France as part of our wider growth strategy.

“Optimisation of our growing fleet is paramount to achieving operational excellence and is a continuous commitment we make on a global scale, as we develop, build and acquire assets for the long term.”

Caisse d’Epargne CEPAC acted as both lender and mandated lead arranger and as facility agent and account bank.

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