Matrix Renewables, a renewable energy platform, has successfully closed a €40 million non-recourse financing with UniCredit to support the development and construction of six solar photovoltaic (PV) plants.
The plants, located across Sicily, Campania, and Lombardia, have a combined capacity of 40 MW, making a significant contribution to renewable energy generation and the reduction of carbon emissions.
Construction began in September 2024 and the plants are expected to create around 67 full-time jobs during the construction phase, providing a considerable economic boost to the regions. Operations are set to begin in 1Q25. Once operational, the portfolio is expected to generate enough clean energy to power approximately 27 500 Italian households annually while preventing around 24 500 tons of CO2-equivalent emissions every year, according to IFI 2021 emission factors per country.
UniCredit has played a key role in the financing as the sole global coordinator and book-runner, providing full underwriting support.
Nicolas Navas, CFO of Matrix Renewables, emphasised: “This non-recourse financial close not only strengthens Matrix Renewables’ position in the renewable energy sector but also marks a step in our expansion. This is our first financing in Italy, a positive milestone as we enter a new market. The addition of these six solar plants to our portfolio is important and we are grateful for the support of the team at UniCredit throughout this process.”
Marco Bortoletti, Lombardy Regional Manager of UniCredit, noted: “We are proud to have supported Matrix Renewables in its first transaction in Italy. This deal underscores our commitment to both customers and communities by providing solutions that contribute to the country’s energy independence.”
Matrix was advised by Greenhorse and UniCredit was advised by Legance on the legal side, Fitchner on the technical side, and Baringa as the Market Advisor.
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