Matrix Renewables signs 44MW Virtual Power Purchase Agreement (vPPA) with Asahi Europe & International

ROMA & MADRID, 25 October 2022: Matrix Renewables, the TPG Rise-backed global renewable energy platform, and Asahi Europe & International (“AEI”) today announced the signing of a new virtual Power Purchase Agreement (PPA). Starting in 2025, AEI will offtake power production for 10 years from 44 MW new-build solar parks located in Italy. The solar farms will provide approximately 58 GWh of renewable electricity every year.

The agreement — the first PPA signed by Matrix Renewables in Italy — supports the development of Matrix’s portfolio while supporting AEI in its wider sustainability ambition to be carbon neutral across all their European breweries by 2030.

Chris Matthews, Managing Director, Development and Markets, Matrix Renewables said, “Matrix Renewables is pleased to announce this deal with Asahi Europe & International in which we are supplying cost-effective clean energy to their operations through our portfolio of geographically distributed solar projects. We very much look forward to our long-term partnership with AEI, and to supporting AEI in meeting its global corporate sustainability goals.”

Paolo Lanzarotti, CEO Asahi Europe & International said, “This latest agreement providing renewable energy for our breweries in Italy marks another important step forward and significant commitment towards our Legacy 2030 goal of becoming carbon neutral in all our breweries by 2030 and across our wider supply chain by 2050. Now more than ever, and together with our partners we are committed to creating meaningful connections with people and the planet”.

This agreement marks Matrix’s seventh PPA in 15 months, a demonstration of the company’s growth and momentum since its founding. During this time, Matrix has developed several landmark and innovative offtake structures that have allowed the renewables platform to optimize financing terms and market revenues.

About Asahi Europe & International

Asahi Europe & International is the international branch of Asahi Group Holdings, a global beverage and food company listed on the Tokyo Stock Exchange, Japan. It is the outcome of years of acquisitions, which allowed Asahi Group Holdings, a traditional Japanese producer of beer, whiskey and wide range of food products, to establish and strengthen its business in Europe and around the globe. As of 2020, the business is established under the Asahi Europe and International organization. Building on centuries of European brewing heritage, the business runs 19 production facilities in 8 countries across Europe, and is the custodian of some of the best beer brands in the world, including Asahi Super Dry, Pilsner Urquell, Peroni Nastro Azzurro, Grolsch and Kozel. Within the Asahi Group, the remit of Asahi Europe and International is also to develop and manage all export markets globally, outside of Japan and Oceania. Covering 90 markets and with over 10,000 passionate colleagues on board, through our shared purpose of Creating Meaningful Connections, the business is well positioned to inspire people around the world to drink better.

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