Sonnedix gets USD 15m in non-recourse financing for Puerto Rico PVs

Sonnedix Power Holdings Ltd has closed non-recourse financing of USD 15 million (EUR 14.4m) for solar photovoltaic (PV) farms in Puerto Rico.

Florida’s third-largest bank, City National Bank, acted as lender, while DLA Piper was the adviser for this transaction, Sonnedix said today.

Currently, Sonnedix has two operational solar PV plants in Puerto Rico with a combined capacity of 73 MW. The company also has more than 50 MW of solar power capacity under development on the island.

Sonnedix’s largest solar plant in Puerto Rico, the 57.7-MW Oriana facility, is capable of generating enough electricity to meet the needs of more than 12,000 homes per year.

(USD 1 = EUR 0.899)

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