Matrix continues its growth and expansion with the acquisition of a 91MW solar portfolio in Italy from Solaer

Matrix Renewables looks to continue growing its European presence in the Italian market with a country-level target of more than 500MW in the solar, storage and wind sectors.

November 10, 2021, ROME, Italy – Matrix Renewables, the TPG-backed renewable energy platform, has entered into an agreement with Solaer, to acquire an initial 91 MW solar portfolio across Italy. The portfolio consists of 15 different assets with construction of the first phase of these projects expected to begin in 2022.

Earlier this year Matrix Renewables announced its entry into the Italian market with projects based in Sicily and Lazio, whilst expressing a wish to operate at least 500MW in the solar, storage, and wind sectors throughout the country. This new agreement contributes significantly to reaching that target.

Iñigo Asensio, Head of M&A and Investments at Matrix Renewables, said: “Through this agreement with Solaer, Matrix continues to accelerate its growth towards becoming a leading renewable energy platform in Italy and around the world. We continue to explore additional opportunities in Europe, the US and Latin America in our international expansion.”

Ignacio Arganza, Solaer co-founder, said: “This agreement demonstrates the excellent collaboration between our teams and is a great example of our collective potential for partnership as Matrix Renewables continues to execute its growth strategy. We are excited to be working together to deliver more renewable energy capacity across Italy.”

In addition to a significant portfolio already in operation, under construction and in development in Europe and Latin America, Matrix Renewables also announced its introduction into the US market earlier this year with the hiring of Cindy Tindell as Managing Director, where it hopes to materially increase its presence, promoting renewable and clean energy over the coming months.

About Solaer

Founded in 2006, Solaer is a Spanish group dedicated to the development, promotion, construction, operation and maintenance of photovoltaic solar plants. The successful business trajectory has allowed Solaer to expand rapidly during the last 15 years connecting plants in Spain, Italy, the United Kingdom, Israel,India, Portugal, Japan, Mexico, the United States, Chile and Colombia.