Sonnedix has acquired a 416MWp solar photovoltaic (PV) portfolio from Enel Chile.
The acquisition of Arcadia Generacion Solar and its four operating PV plants, cleared by Fiscalía Nacional Económica, positions Sonnedix as one of the largest utility scale renewables producers in Chile.
The newly acquired portfolio is composed of projects all located in the north of Chile.
This comprises Diego de Almagro, a 36MWp project located in Chañaral; Carrera Pinto, a 97MWp solar project located in Copiapó; Pampa Solar, a 79MWp solar project located in Antofagasta, and Domeyko, a 204MWp also located in Antofagasta.
The projects have been operational since 2014, 2016 (Carrera Pinto and Pampa Solar) and 2022, respectively.
Sonnedix now has over 2.5GW of controlled capacity and this latest deal marks Sonnedix’s largest acquisition to date of operating assets across its global portfolio.
In parallel, Sonnedix successfully closed a US$624m acquisition financing facility with BNP Paribas, SMBC and Société Generale, acting as joint lead arrangers, joint bookrunners and green loan coordinators.
Crédit Agricole CIB acted as senior mandated lead arranger and DNB Bank acted as arranger.
The transaction also includes the refinancing of Atacama Solar, Sonnedix’s largest operational utility scale project in Chile.
Axel Thiemann, chief executive of Sonnedix, said: “The acquisition of this portfolio demonstrates Sonnedix’s strong and long-standing commitment to helping Chile meet its renewable power goals.
“The refinancing recognises this strategy, the growing scale of our platform in country and the enduring strength of the relationships with our banking partners.
“I am delighted to be adding another PPA to those already agreed this year. This is an important step as we continue expanding our global portfolio of renewable energy assets, and to leading the energy transition in Chile.”
These additions to Sonnedix’s Chilean portfolio produces enough green electricity to power over 530,000 Chilean homes and avoid 460,000 metric tonnes of CO2 each year.