Centrus played a critical role in a landmark refinance of USD1.3 billion to accelerate Chile’s renewable energy and storage pipeline for Sonnedix

Transaction overview

Sonnedix is a global renewable energy company delivering 100% clean electricity directly to its customers through a diversified portfolio of solar, wind, and storage assets.

Sonnedix, secured USD1.3 billion through a landmark refinancing transaction in Chile. The transaction will accelerate Sonnedix Chile’s renewable energy development pipeline in the country, including its energy storage and hybrid projects.

The agreement refinanced 1GW of operational solar and wind capacity across Chile, while also financing 117MW of battery energy storage systems (BESS) under construction, offering significant geographic and technological diversification across the country.

Centrus’ solution

Centrus partnered with Sonnedix and their advisors to design a customised, efficient hedging strategy that included:

• Structured and executed bespoke interest-rate hedging
• Optimised financing costs
• Market risk mitigation
• Post-closing actions

The refinancing delivered

• Cost savings
• Streamlined operating and reporting
• Streamlined portfolio
• Seamless transition
• Efficient execution

“Centrus were delighted to support Sonnedix in this landmark transaction. Sonnedix continues to lead the way in the solar revolution and this transaction is another example of their commitment to sustainable energy transition. This was a complex transaction, and Centrus made streamlining of a large portfolio of trades into a simplified, cost effective hedging solution possible  with Sonnedix’s long-term strategy“

Bryan Conway, Director of Risk Advisory – Centrus

“This record refinancing demonstrates the ongoing confidence our partners have in our ability to execute at scale, and in our commitment to driving sustainable, long-term solutions that support the energy transition. Hedging was one of the drivers in creating value in this transaction and Centrus as hedging advisor played a key role to capture it. The transaction was complex and they managed every step with exceptional thoroughness and professionalism“

Daniel Machuca Reyes, Global Head of Project Finance – Sonnedix

For more information, please contact Bryan Conway, Director of Risk Advisory at Centrus

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