Sonnedix’s $15 Million Puerto Rican Solar Energy Plants Financing


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.

Involved fees earner: Roberto Pupo – Holland & Knight; Lara Rios – Holland & Knight;

Law Firms: Holland & Knight;

Clients: City National Bank of Florida Inc.;