Istres 11.5MW, France

Istres, France

Sonnedix announces the closing of Euro 96 MM of non recourse project financing in France with HSH Nordbank AG

24 December 2013

Paris, France – For immediate release.

Sonnedix announces its financial closing of a long term non recourse project financing for a portfolio of two solar plants in operation totalling 23.5MW at Istres and Saint Martin de Crau, South East of France. These plants will provide clean power to an area of France with high irradiation and limited power reserves. Debt financing is provided by HSH Nordbank AG (“HSH”),

” We have been strengthening our European base while developing projects in new markets. We’re very pleased to continue and deepen our partnership with HSH on this project. We look forward to continued cooperation with them in other solar projects in the near future ” says Franck Constant, President of Sonnedix. The Istres and Saint Martin de Crau portfolio is adding in excess of 36 GWh per year of solar power production to Sonnedix European portfolio.

” The financing of these two solar plants represents one of our flagship transactions and our largest PV deal in Europe for 2013. We’re once again very delighted to strengthen our strategic partnership with Sonnedix ” said Romain PETEUIL, Senior Vice President, Renewable Energy with HSH.

About Sonnedix: 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 over 100MW of solar power plants globally.

About HSH Nordbank AG: With a track record of over 20 years in the energy industry HSH Nordbank is a leading financing partner focused on wind and solar projects across Europe. HSH Nordbank provide long term project finance, related liquidity management, risk management products and corporate finance services.

 

I’d put my money on the Sun and Solar Energy, what a source of Power! I hope we don’t have to wait until oil and coal run out, before we tackle that.

Thomas Edison in conversation with Henry Ford and Harvey Firestone, 1931