Matrix Renewables announces Olivares as first commercially operational project in Spain

The plant will deliver clean electricity to meet the needs of approximately 30,000 families across Spain and avoid emissions of over 44,000 tons CO2-eq. 

October 5, 2022, MADRID, Spain – Matrix Renewables, the TPG Rise-backed renewable energy platform, today announced the launch of its Olivares Solar Plant’s commercial operations. 

The Olivares PV project, which as been under construction for the past year in the Spanish province of Jaen (Andalusia), opens with a capacity of 50 MW. It is the first of Matrix Renewables’ plants in Spain to become commercially operational and will deliver enough new clean electricity to meet the needs of around 30,000 households annually, avoiding emissions of over 44,000 tons of CO2-eq per year. 

The construction of the Olivares PV project created over 300 jobs. Additionally, the execution and operation of the project will provide robust biodiversity protection and management measures, particularly with regards to regionally important birds and other wildlife. The plant has a 10-year PPA which starts in Q4 2022. 

Speaking about this new milestone, Luis Sabaté, President and COO, Matrix Renewables commented: “Today, we achieved a significant milestone for Matrix Renewables, as our first project of many becomes commercially operational in Spain. It is extremely humbling to know that we are making a difference to Spanish families and businesses by providing new sustainable energy at this challenging time for energy in our country.” 

Matrix Renewables has a portfolio of 2.3 GW of renewable energy projects and storage that are operational, in construction or near ready-to-build across Europe, North America and Latin America, of which 230 MW are operational, with an additional 400 MW in construction, and a further 7.3 GW pipeline of renewable energy projects under development. 



About Matrix Renewables 

Matrix Renewables is a renewable energy platform created and backed by global alternative asset manager TPG and its $15 billion impact investing platform TPG Rise. Matrix Renewables’ current portfolio is comprised of 2.3 GW of operational, under construction, or near ready-to-build solar PV projects and a further 7.3 GW pipeline of renewable energy projects under development, across North America, Europe, and Latin America. For more information, visit or send an email to 

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