Matrix Renewables continues its solar expansion in Spain and Italy with the acquisition of a 440 MW Portfolio

13 January 2022, Madrid (Spain)– Matrix Renewables, the TPG Rise-backed renewable energy platform, has entered into an agreement to acquire a 440 MW solar portfolio across Spain and Italy.

The portfolio, which comprises five different assets with a capacity of 440 MW, includes 400 MW of solar PV in Spain and 40 MW in Italy. Construction on the first phase of these projects is expected to begin in 2022. Additional details related to the transaction were not disclosed.

Iñigo Asensio, Head of M&A at Matrix Renewables, said: “With this new agreement, we continue to grow our business in Spain and Italy, allowing us to build upon our existing geographical diversification. During 2021, Matrix has become a prominent player in the renewable energy sector, growing our portfolio to more than 3.5 GW across Europe, the US and Latin America. We will continue to further explore additional opportunities in these geographies during 2022 as we continue to expand globally.”

Matrix Renewables entered the Italian market in September 2021 through a partnership with Horus Green Energy Investment with an agreement to co-develop nearly 420 MW of solar projects in Sicily and Lazio, Italy. Two months later, the company further expanded its portfolio in the country with the acquisition of a 91MW solar portfolio from Solaer.

In the past year, Matrix Renewables has increased its presence by 1.3 GW in brownfield projects and an additional 600 MW in greenfield projects in several geographies across the globe including Italy, Portugal, Chile, Colombia, and the US, where – with the recent appointment of Cindy Tindell as Head of the US – the company plans to materially increase its presence over the coming months.