Matrix Renewables, a global renewable energy platform supported by TPG Rise, has announced a significant agreement with Banco Sabadell to finance a €179 million project for the construction of five solar plants in Castilla y León and Extremadura. These plants, located in the provinces of Palencia and Badajoz, are projected to create approximately 430 full-time jobs.
According to a statement released by Matrix Renewables, the construction of these solar plants, totaling 239 MW, is expected to commence soon, with the first plants anticipated to begin operations in the first quarter of 2025. Once operational, the entire portfolio is estimated to generate enough clean energy to supply around 144,675 homes by the end of the year.
The financing agreement, facilitated by Banco Sabadell, is considered a green loan, underscoring the bank’s commitment to sustainable initiatives. Banco Sabadell acted as the insurance bank and sole bookrunner in the financing process.
Matrix Renewables received legal counsel from Linklaters (Madrid office), while Banco Sabadell was advised by Watson Farley Williams (Madrid and United Kingdom offices) for legal matters and Altermia for technical expertise.
Matrix Renewables asserts that its current portfolio comprises 14 GW of renewable energy storage and green hydrogen projects across Europe, North America, and Latin America
The collaboration between Matrix Renewables and Banco Sabadell marks a significant milestone in advancing renewable energy infrastructure in Spain. With the financing secured, the construction of five solar plants is set to create job opportunities and contribute to the region’s clean energy transition. As Matrix Renewables continues to expand its portfolio globally, the project underscores the growing importance of sustainable energy solutions in meeting environmental targets and powering communities worldwide.
