Sonnedix Announces Completion of Second French Portfolio Refinancing

23 March 2016

Sonnedix Group, a global IPP, announced the completion of the non-recourse debt refinancing of a portfolio of four solar parks totalling 23.6MW across southern France.

The financing, which is for a total of Euro 93.7 million, is provided by MUFG’s banking arm, Bank of Tokyo-Mitsubishi UFJ, and La Banque Postale.

Sonnedix Group’s CEO, Andreas Mustad, commented “This is the second portfolio refinancing the Group has achieved in France in the past four months.  Thisfurther demonstrates the strength and quality of our portfolio and the good relationship we’ve developed with our banking partners.  I’m particularly pleasedthat we’ve extended our relationship with MUFG who were part of our previous French portfolio refinancing and with whom we are actively engaged around the world.  I would also like to extend a warm welcome to La Banque Postale as anew lending partner to the Group.  The refinancing maximises the opportunity thatthe current favourable market conditions bring, therebycreating real value for our shareholders while reinforcing the long-term stability of our French fleet”.

Philip Roberts, Head of Energy & Natural Resources at MUFG, said, “We are very pleased to have been invited to participate in our second French Portfolio refinancing with the Sonnedix Group.  We look forward to further extending ourrelationship with Sonnedix as it continues to develop and growaround the world”.

Sonnedix was advised by Linklaters (legal advisor) and Astris Finance (financial advisor).

Sonnedix is an Independent Solar Power Producer (IPP) with a proven track record in delivering high performance cost competitive solar photovoltaic plants to the market. Sonnedix develops, builds, owns and operates solar power plants globally. For more information about Sonnedix, please visit www.sonnedix.com.

In Japan, Sonnedix’s investments are managed by its trusted operator Nippon Solar Services, a developer, asset manager, and operator of mega-solar projects in Japan.