Matrix Renewables announces partnership with H&M Group
Transition to Renewable Power will accelerate decarbonization of global fashion industry.
October 7, 2021, MADRID, Spain –Matrix Renewables, the TPG-backed global renewable energy platform, today announced that it has entered into an agreement with the global family of fashion brands and businesses H&M Group.
The long-term partnership, signed today, will contribute to the continued decarbonization of Europe’s consumer goods sector and accelerate the energy transition. “Clothing and textile production can be energy and carbon intensive,” said Luis Sabaté, President and COO of Matrix
Renewables. H&M Group’s goal is to become climate positive and use 100% renewable electricity in its own operations as well as to increase the use of renewable energy with partners and suppliers.
“We are excited to support H&M Group in achieving its sustainability goals and we look forward to working closely with the fashion group as it progresses along this journey. This initiative is consistent with our belief that the development, construction and operation of cost-effective clean energy projects can foster economic growth while preserving the environment.”
Matrix Renewables was founded in 2020 and is supported by global alternative asset manager TPG and its global impact investing fund The Rise Fund. Matrix currently has a significant solar and storage portfolio in operation, under construction, and at different phases of development across Europe, the US and Latin America.
About Matrix Renewables
Matrix Renewables is a renewable energy platform created and backed by global alternative asset manager TPG and its more than $11 billion impact investing platform TPG Rise. Matrix Renewables’ current portfolio is comprised of 1.5 GW of operational, under construction, or near ready-to-build solar PV projects and a further 3.2 GW pipeline of renewable energy projects under development, across Europe, US and LATAM. For more information, visit matrixrenewables.com or send an email to firstname.lastname@example.org
About H&M Group
H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm. H&M’s business idea is to offer fashion and quality at the best price in a sustainable way. In addition to H&M, the group includes the brands COS, Monki, Weekday, & Other Stories, H&M HOME and ARKET as well as Afound. The H&M group has 53 online markets and approximately 4,900 stores in 75 markets including franchise markets. In 2020, net sales were SEK 187 billion. The number of employees amounts to approximately 153,000. For further information, visit hmgroup.com.