Matrix Renewables, a renewable energy platform backed by TPG Rise, has closed a €124 million non-recourse financing for the construction of three solar photovoltaic plants totalling 157 MW in Castilla León and Castilla La Mancha, Spain.
This financing is supported by NORD/LB, which acts as the agent, as well as BBVA and Rabobank.
The plants, located in the Palencia province of Castilla León and Cuenca province of Castilla La Mancha, will contribute to clean energy generation and carbon emission reduction. The plants are expected to create around 260 full-time jobs during the construction phase. Construction of the plants began in November 2024 and, once operational in 1Q2026, the portfolio will generate enough clean energy to power approximately 78 000 households annually, preventing over 100 000 pty of carbon dioxide-equivalent emissions. Matrix Renewables has collaborated with local government authorities and environmental groups to ensure the integration of these projects into the local landscape whilst adhering to environmental standards.
Nicolas Navas, CFO of Matrix Renewables, emphasised: “This financing structure, involving BBVA, NORD/LB, and Rabobank, showcases the growing interest and investment in renewable energy projects by major financial institutions, further strengthening Matrix Renewables’ ability to scale its impact in the renewable energy market. The addition of these three solar plants to our growing portfolio will accelerate our efforts to provide clean energy and sustainability.”
Borja Sáez de Montagut, Managing Director responsible for Project Finance Energy at BBVA, stated: “We are happy to support Matrix in the financing of its renewable energy projects. This transaction highlights a commitment to partnering with clients to drive sustainable development through renewable energy initiatives.”
Heiko Ludwig, Global Head of Structured Finance at NORD/LB, commented: “At NORD/LB we’re committed to financing renewable energy projects that expedite Europe’s net-zero transition, creating clean energy for millions of households. These solar farms will contribute to Spain’s renewable energy plans, helping to decarbonise the country’s economy.”
Carol Kort, Executive Director Rabobank Project Finance, stated: “Rabobank is happy to have supported this transaction and the continued growth of Matrix Renewables’ portfolio of renewable energy assets. This collaboration highlights our dedication to driving the shift towards a more sustainable, low-carbon future.”
Matrix was advised by Linklaters, while BBVA, NORD/LB, and Rabobank were supported by Watson Farley Williams for legal advice and Altermia for technical advisory.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global’s Winter 2024 issue
Don’t miss out on our last issue of the year! The Winter issue of Energy Global is out now; this issue kicks off with a guest comment from Veronica Maxted, Director of Renewables at RS Group before moving on to a regional report on the current state of the renewables industry in North America. This edition of the magazine also explores key topics such as inspection and maintenance, solar optimisation, energy storage technology, geothermal drilling and operations, and much more. With contributions from key industry leaders such as Viridien, Hexagon, DNV Energy Systems, and Halliburton, among others, dive into the issue and see what you could learn.
Read the article online at: https://www.energyglobal.com/solar/29012025/matrix-renewables-secures-financing-for-solar-plant-construction/
#Matrix #Renewables #secures #financing #solar #plant #construction