Sonnedix secures 730 million euros to expand solar and storage in Southern Europe
Sonnedix announced on August 4, 2026 it secured 730 million euros in financing for about 540MW of solar and battery storage across four Southern European countries.
Photo by Mark Stebnicki on Pexels
London-based renewable energy company Sonnedix announced on August 4, 2026 that it secured 730 million euros (roughly 840 million US dollars) in solar and battery storage financing for the refinancing, optimization and construction of renewable energy assets across Southern Europe. The financing covers photovoltaic plants with a combined capacity of approximately 540 megawatts (MW) plus two battery energy storage system (BESS) assets, spread across France, Italy, Portugal and Spain.
Most of the financed projects sit in Italy, where a 350MW portfolio accounts for the largest single-country share, with the remaining roughly 190MW of capacity split across France, Portugal and Spain. Sonnedix did not disclose a country-by-country breakdown beyond the Italian figure.
Why the solar and battery storage financing matters for Sonnedix’s strategy
Sonnedix said the new capital will support its “hybridization strategy,” meaning it plans to pair battery storage with existing and new solar generation rather than build the two separately. The company said the financing follows a recent BESS portfolio acquisition in Italy and will help it expand its customer base for power purchase agreements (PPAs), hedging arrangements and hybrid offtake products used by corporate buyers to manage energy costs and decarbonization targets.
“This financing reflects Sonnedix’s commitment to developing high quality renewable projects in our strategic markets,” said Axel Thiemann, chief executive of Sonnedix. “It follows our recent BESS portfolio acquisition in Italy, and underscores the pace at which we are scaling our storage capabilities across Europe.”
Financing details and lenders
| Detail | Figure |
|---|---|
| Total financing secured | 730 million euros (about 840 million US dollars) |
| Countries covered | France, Italy, Portugal, Spain |
| Combined solar (PV) capacity | approximately 540 MW |
| Battery storage (BESS) assets | 2 |
| Largest single-country allocation | Italy, 350 MW |
| Lending banks and institutions | 9 |
| Sonnedix founded | 2009 |
Nine banks and financial institutions formalized the transaction: AIB, CACIB, CIBC, ING, Intesa Sanpaolo, Sabadell, Santander CIB, Societe Generale and UniCredit. The deal builds on a broader trend of European lenders backing combined solar-and-storage portfolios, similar to the approach seen in Vena Energy’s recent Australian dollar financing for solar and battery storage projects, though that deal covered a different market. Sonnedix’s move also comes amid a wider surge in climate tech venture capital funding, which reached 26.1 billion US dollars globally in the first half of 2026.
About Sonnedix
Founded in 2009 and headquartered in London, Sonnedix develops, builds, owns and operates utility-scale solar, wind and battery storage projects. The company designs power purchase agreements, hedging strategies and hybrid offtake products intended to help corporate customers manage energy costs and decarbonization goals. Its August 2026 financing follows an earlier BESS portfolio acquisition in Italy and extends a strategy of combining generation and storage assets across its established Southern European markets, positioning the company to deliver dispatchable renewable power as regional demand for flexible clean energy grows.
Featured image: photo by Mark Stebnicki on Pexels (free Pexels license).
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I specialize in sustainability education, curriculum co-creation, and early-stage project strategy. At WINSS, I craft articles on sustainability, transformative AI, and related topics. When I’m not writing, you’ll find me chasing the perfect sushi roll, exploring cities around the globe, or unwinding with my dog Puffy — the world’s most loyal sidekick.
