Matrix Renewables and Allcot partner to assess greenhouse gas emissions avoidance in Colombia and Chile
Matrix Renewables’ PV plants will generate carbon credits representing more than 486,000 tons of CO2 equivalent per year avoided between the two countries under the Waste Activities Program for Latin America, registered by ALLCOT.
15 February 2022, Madrid – Matrix Renewables, the TPG Rise-backed renewable energy platform, and ALLCOT Group, a leader in greenhouse gas (GHG) emissions management tools and strategies for businesses of all sizes, today announced a partnership to drive significant carbon equivalent emissions avoidance through photovoltaic solar energy plants in Chile and Colombia.
The project includes the construction, development, execution and operation of Matrix Renewables solar plants in both countries, under the Waste Activities Program for Latin America registered by ALLCOT on August 20th, 2020. The two projects, one in each country, have the cumulative potential to generate Certified Emission Reductions equivalent to 486,000 tons of CO2-eq per year (86,000 TnCO2-eq in Colombia and 400,000 TnCO2-eq in Chile). ALLCOT is responsible for the assessment, registration, monitoring, and issuance of the credits generated from the projects.
This milestone, which promotes the implementation of emission reduction projects associated with renewable energy, will have as its main achievements the avoidance of CO2 emissions, the compliance with the Nationally Determined Contributions (NDC) of Colombia and Chile and will demonstrate the ongoing commitment by both multinational companies to lead climate change mitigation projects and initiatives.
About Matrix Renewables
Matrix Renewables is a renewable energy platform created and backed by global alternative asset manager TPG and its $13 billion impact investing platform TPG Rise. Matrix Renewables’ current portfolio is 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 Europe, US, and Latin America. For more information, visit matrixrenewables.com or send an email to firstname.lastname@example.org.
ALLCOT Group, founded in 2009, offers knowledge, experience and management to initiatives to reduce the emission of Greenhouse Gases (GHG) to actively combat the climate crisis under Article 6 of the Paris Agreement and aligning with the 2030 Agenda and its 17 Sustainable Development Goals (SDGs).
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¹ Note to editors: Statkraft launched a call in 2021 to buy renewable power from Independent Power Producers in Iberia. The company is likely to launch a similar process in the first half of 2022.