Matrix Renewables, a global renewable energy platform supported by TPG Rise, has finalized a significant agreement with Banco Sabadell to fund a €179 million project for constructing five solar plants in Castilla y León and Extremadura. These plants, situated in Palencia and Badajoz provinces, are projected to generate approximately 430 full-time jobs.
As per Matrix Renewables’ statement, construction of these solar plants, with a total capacity of 239 MW, is slated to commence shortly, with the first plants expected to be operational by the first quarter of 2025. Upon completion, the entire portfolio is estimated to produce enough clean energy to cater to approximately 144,675 homes by year-end.
Facilitated by Banco Sabadell, the financing agreement is characterized as a green loan, highlighting the bank’s commitment to sustainability. Banco Sabadell served as the insurance bank and sole bookrunner in the financing process.
Legal guidance for Matrix Renewables was provided by Linklaters (Madrid office), while Banco Sabadell received counsel from Watson Farley Williams (Madrid and United Kingdom offices) for legal matters and Altermia for technical expertise.
Matrix Renewables asserts that its existing portfolio encompasses 14 GW of renewable energy storage and green hydrogen projects spanning Europe, North America, and Latin America.
The collaboration between Matrix Renewables and Banco Sabadell signifies a significant step forward in advancing renewable energy infrastructure in Spain. With the financing secured, the construction of five solar plants is poised to generate employment opportunities and contribute to the region’s transition towards clean energy. This project underscores the increasing significance of sustainable energy solutions in achieving environmental objectives and energizing communities globally.
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.
By Proptechbuzz
By Ravi Kumar
