Sonnedix closes €730 million battery storage and PV financing in Europe

Sonnedix said it has closed a €730 million financing package for the refinancing, optimization and construction of PV and battery energy storage system (BESS) assets across Italy, Spain, Portugal and France.

The financing covers approximately 540 MW of PV plants and two BESS assets across the four countries. Italy represents the largest share of the allocation, with more than 350 MW of capacity, according to Sonnedix.

Nine banks participated in the transaction: AIB, Crédit Agricole CIB (CACIB), Canadian Imperial Bank of Commerce (CIBC), ING, Intesa Sanpaolo, Sabadell, Santander CIB, Societe Generale, and UniCredit.

Sonnedix CEO Axel Thiemann said the financing follows the company’s recent battery storage portfolio acquisition in Italy and reflects the pace at which it is scaling storage capabilities across Europe. In July, Sonnedix acquired a 260 MW/1,040 MWh BESS portfolio in Tuscania, Lazio, from Sphera Energy. It was the company’s first standalone battery storage portfolio in Italy, comprising two four-hour projects of 160 MW/640 MWh and 100 MW/400 MWh.

The €730 million deal is smaller than several recent Sonnedix refinancing transactions, including a €2 billion European refinancing across 1.3 GW of assets in Spain, Italy, France, Portugal, Poland and the United Kingdom, and a €1.37 billion refinancing covering 1,040 MW across five countries, both completed in 2025.

Sonnedix has a total portfolio capacity of 12 GW, including more than 1 GW under construction, 4 GW in operation and a 6 GW development pipeline, according to company figures. It operates in Chile, France, Germany, Italy, Japan, Poland, Portugal, Spain and the United Kingdom.