CaixaBank acts as Mandated Lead Arranger and Green Global Coordinator of a €260 million green loan to Sonnedix to finance Italian renewable energy projects

• The bank is part of the pool of international banks participating in the green loan. As part of the financing transaction, CaixaBank also acted as one of the Hedging Banks.

CaixaBank acts as MLA, Green Global Coordinator and Hedging Bank in the €260 million green loan to Sonnedix, a leading renewable energy producer with over 3 GW of operating capacity, to finance its pipeline of renewable energy projects in Italy.

The loan, secured in December 2023, represents one of the largest solar project financing deals in the Italian market during the year. The multi-borrower loan includes greenfield project finance for the construction of two solar photovoltaic plants located in Sicily and Sardinia with a total capacity of around 200MW, as well as an acquisition finance tranche for an operating asset.

This financing allows CaixaBank to strength its position on the Italian renewable energy market reinforcing too its commitment to the Sustainability.

CaixaBank, benchmark in sustainability

CaixaBank has a strong historical commitment to the social impact of its activity, assuming the responsibility of driving a positive economy that prioritises people’s well-being. To this end, it has drawn up a Sustainable Banking Plan as part of CaixaBank’s Strategic Plan for the 2022-2024 period, of which one of its ambitions is to be a benchmark in Europe for sustainability.

Under its Sustainable Banking Plan, CaixaBank’s goal is to mobilise €64 billion in sustainable finance between 2022 and 2024. Besides providing capital to finance energy transition initiatives, this includes purposes with a social impact such as microloans for students, the self-employed, microenterprises or families and new companies creating jobs. The bank is also committed to reaching 413,300 MicroBank beneficiaries, the Group’s social bank.

CaixaBank in Italy

CaixaBank established a presence in Italy in 2000 through a representative office that served as a bridge between Italian and multinational companies operating in the country and CaixaBank's CIB team in Spain.

In early 2023, the bank was granted a banking license in Italy, enabling its team to manage clients directly within the country and offer a comprehensive range of financial and banking services to large Italian corporations and multinationals (large corporates). These services include checking accounts, deposits, short- and long-term financing, working capital solutions, and foreign trade.

The establishment of the Italian branch in 2023 marked another milestone in CaixaBank's strategic initiative to transform its representative offices across Europe into fully licensed banking branches. This trend commenced in 2016 with the UK office, followed by Germany in 2017 and France in 2018.

About Sonnedix

Sonnedix is a global renewable energy producer with over a decade-long trajectory of sustainable growth. Sonnedix develops, builds, and operates renewable energy projects for the long-term, with a focus on providing green, affordable electricity to our customers, and acting as a true social citizen there where it operates.

Sonnedix currently has a total capacity of over 10GW, including a development pipeline of more than 6GW, across Chile, France, Germany, Italy, Japan, Poland, Portugal, Spain, USA, and UK. The company continues to expand its global footprint across OECD countries, through acquisitions and development of renewable energy projects.

For more information, please visit www.sonnedix.com