Madrid-headquartered Matrix Renewables, a renewable energy platform created and backed by global alternative asset manager TPG and its $14 billion impact investing platform TPG Rise, based in Texas, announced a new long-term financing agreement signed with Natixis for a 129MW solar photovoltaic plant in Spain.
Located in Almonte, Huelva, the project is split into three plants, with storage intended to be added shortly after commissioning. In addition to providing new clean electricity, the project will create more than 500 jobs in the area during its construction phase. The project is expected to start operations in Q1 2023.
This financing has been certified as a Green Loan and complies with all the Green Loan principles which aim to promote sustainability and projects with clear environmental benefits.
The new deal will finance a part of Matrix Renewables’ existing portfolio comprised of 2.1 GW of operational, under construction, or near ready-to-build solar PV projects and a further 2.7 GW pipeline of renewable energy projects under development, across the US, Europe, and Latin America.
Speaking after the deal was closed, Nicolás Navas, CFO at Matrix Renewables, said:
“This agreement represents the power of collaboration and continued support for renewable energy development. The support from the financial industry, national and international, to Matrix represents the fourth long term financing completed across three countries in the last 6 months totalling more than $578M. Spain is our home market, so this milestone is quite significant for our growing ambitions in the country, as we hope to be able to close more of these long-term financing agreements in the near future.”
Source: Press release by Matrix Renewables.