Sonnedix Japan has refinanced a portfolio of solar PV plants across Japan.
The developer has combined and closed a portfolio financing for eight of its high voltage projects with a combined capacity of 18MW.
This marks Sonnedix’s first portfolio financing in Japan, which will enable significant streamlining of processes and will further optimize the operation and management of its solar PV assets in the country, the company said.
The JPY5,295m (€33m) agreements secured from joint lenders MUFG Bank and The Iyo Bank.
The refinancing allows Sonnedix to responsibly maximise efficiencies of its renewable power assets and ensures the sustainability and longevity of its solar plants throughout the country, the company said.
Sonnedix Japan currently operates 25 PV projects in the country, with a total of around 495MW controlled capacity.
Sonnedix chief executive Axel Thiemann said: “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.
“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.”