Solar independent power producer Sonnedix Power Holdings Ltd. secured a €250 million corporate facility to retire its existing debt and accelerate growth.

The facility consists of a five-year €175 million term loan and a five-year €75 million revolving credit facility, according to a March 18 news release. The financing was underwritten by ING Bank NV, Natixis and Banco Santander SA - London Branch.

Sonnedix tapped Norton Rose Fulbright LLP as legal adviser. The lenders hired KPMG for model audit, G-Advisory for technical and Milbank LLP for legal advice.

Sonnedix controls more than 1.6 GW of solar photovoltaic capacity, with more than 800 MW of operational capacity and 200 MW in construction. It is actively acquiring and developing new projects in Organization for Economic Cooperation and Development countries.