Matrix Renewables agrees to acquire 300 MW from Alten in Spain and Portugal an enters into a 2GW development agreement in Spain

Madrid, 14 June 2021
Matrix Renewables, the TPG-backed renewable energy platform, leader and global investor in renewable energy, has entered into an agreement with Alten Renewable Energy, to acquire a 300 MW solar portfolio across Spain and Portugal.

The portfolio, which comprises 5 different assets with a capacity of 300 MW, includes 210 MW of solar PV in Spain and 90 MW in Portugal. Construction on the first phase of these projects is expected to begin in 2021.

In addition, Matrix Renewables has also reached an agreement with the Alten management team to develop 2 GW of solar and storage projects in Spain and Portugal. Iñigo Asensio, Head of M&A at Matrix Renewables, said: “These agreements will allow Matrix to become a relevant renewable energy platform in the Iberian Peninsula. We are confident that it will boost our presence in Spain and Portugal, and we will continue to further explore additional opportunities in Europe, Latin America and the US in our quest to expand, globally.” Carlos Castellanos, Alten co-founder, said: “All members of the Alten team are very excited with this opportunity that allows us to contribute our experience in the Iberian Peninsula and other geographies with Matrix Renewables, one of the most important global renewable energy players.” The new deal will build on Matrix Renewables’ existing portfolio in Spain.

This consists of latestage Solar PV projects of 125 MW, which were acquired from Trina Solar in 2020 and 150 MW acquired from Rolwind in 2021, the construction for which is expected to begin later this year. Another 1 GW partnership with Rolwind Group has also been signed to develop several additional assets.