Holland & Knight Represents City National Bank in Financing of Puerto Rican Solar Energy Plants

MIAMI (January 21, 2020) – Holland & Knight represented City National Bank, the third-largest Florida-based bank, in its $15 million loan to Sonnedix, a global independent solar power producer. 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 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 and Lara Rios advised City National Bank in the transaction.