Solar power producer Sonnedix has secured $87m (€77m) financing to help the company further expand its presence in the Chilean market.

Sonnedix and Natixis have closed the senior facilities for an expected 100MWp portfolio of approximately 20 solar photovoltaic plants in Chile.

The Sonnedix portfolio consists of solar photovoltaic projects that operate under Chile’s special regime for distributed generation projects (PMGD).

The financing structure provides Sonnedix with the flexibility to add additional solar PMGD projects to the portfolio, subject to meeting pre-defined eligibility criteria.

Sonnedix said it plans to add two new plants to the portfolio, with combined capacity of 14MWp, by June 2020, and projects with a further 61MWp in combined capacity during the term loan availability period.

Axel Thiemann, CEO of Sonnedix, said: “This financing allows us to further expand our presence in the Chilean market and helps to establish Sonnedix as a strong contributor to the country’s long-term commitment to renewables and stable regulatory environment.”

“We continue actively seeking opportunities to invest and develop projects that will help achieve key strategic goals for the country’s power system.”

Aitor Alava, MD, head of infrastructure finance, Latin America at Natixis, said: “This marks the fourth PMGD loan portfolio term financing arranged by Natixis over the past 12 months; these transactions further consolidate Natixis’ leadership amongst financial institutions in the PMGD space.”

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