Holland & Knight represented City National Bank in the financing.
City National Bank, Florida’s third largest bank, issued a $15 million loan to Sonnedix.
The non-recourse loan will be used to finance Sonnedix’s solar photovoltaic (PV) plants in Puerto Rico. The transaction was announced on January 14.
Sonnedix is a global independent solar power producer. The Company started operations in Puerto Rico in 2015, where it currently has two operational solar PV plants with a combined capacity of 73MW and more than 50MW of solar power capacity under development on the island.
Holland & Knight Partners Roberto Pupo (Picture) and Lara Rios advised City National Bank in the transaction.
Law Firms: Holland & Knight;
Clients: City National Bank of Florida Inc.;