Sonnedix secures $34.4m refinancing for Japanese solar projects

The fund will cover eight solar projects with a total capacity of 19 MW.

Sonnedix Japan has achieved the refinancing for 18-megawatt (MW) solar projects worth $34.4m (JPY5.3b).

In a statement, Sonnedix said the funding for the eight solar projects was secured for joint lenders MUFG Bank and The Iyo Bank.

This is Sonnedix’s first portfolio financing in Japan, streamlining processes and optimising the operation and management of its solar assets in the country.

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"This refinancing, our first portfolio financing in the Japanese market, is a fantastic demonstration of how Sonnedix continues to deliver on optimising our operations and assets across the globe,” Sonnedix CEO Axel Thiemann said. 

“Driven by our long-term commitment to the Japanese renewable energy market, we continue to focus on further establishing ourselves as a trusted partner in Japan, providing clean, affordable and secure energy sources to help meet decarbonisation goals," he added.

Sonnedix operates 25 solar projects in Japan with a total controlled capacity of around 495 MW.

$1 = JPY153.75