Watson Farley & Williams (“WFW”) advised the consortium of original lenders on the termination of the 44 Sonnedix existing financings pursuant to a €2.5bn refinancing granted to it by 15 new lenders. WFW also advised on the due diligence process for its 1.1 GW portfolio of renewable energy assets in Spain, Italy and France that were funded under the existing financings.
Sonnedix is a global renewable energy producer with a total capacity of more than 11 GW, including a development pipeline of more than 6GW across Chile, France, Germany, Italy, Japan, Poland, Portugal, Spain, the UK and the US.
The cross-border WFW Finance team that advised on this transaction was led by Madrid Partner Rodrigo Berasategui, supported by Senior Associate Antonio Cáneva and Associates Sara Estradera and Guzmán Sáez. Regulatory expertise was provided by Senior Associate Ignacio Soria. French law advice was provided by Paris Finance Partner Laurence Martinez-Bellet, assisted by Associates Chloé Moriceau and Simon Allain, and by Public Law and Regulatory Partner Laurent Battoue, supported by Counsel Antoine Bois-Minot and Associates Amandine Collard and Catherine Masquelet.
Italian law finance expertise was provided by Milan Partner Mario D’Ovidio supported by Associate Daniele Sani. Milan Project Counsel Matteo Trabacchin and Associates Dario Matrecano and Francesca Angelilli advised on corporate and project contracts matters. Due diligence advice was provided by Rome Regulatory Partner Tiziana Manenti, working with Senior Associate Anthony Bellacci and Associates Antimo Rocco Nersita and Marco Iannotti. Associate Antonio Ferrero and Trainee Roberto Di Marzo advised on real estate law.
Rodrigo commented: “We are delighted to have been able to advise on this landmark and complex cross-border transaction, thanks to the unrivalled industry knowledge and finance expertise of our team in the renewables space”.
