Matrix Renewables, a global renewable energy platform funded by TPG Rise, in partnership with Banco Sabadell, has finalized a €179 million financing package to build five solar photovoltaic facilities in Spain, aligned with Matrix’s ESG policies. The plants, located in the provinces of Palencia in Castilla León and Badajoz in Extremadura, will have a combined capacity of 239 MW. This development will contribute to the production of renewable electricity and the reduction of carbon emissions. The project began in December 2023 and is expected to create around 430 full-time jobs during the construction phase, with a positive impact on the regional economy.
Energy and environmental impact
Once operational, these facilities will produce enough clean energy to power around 144,675 homes each year, avoiding more than 57,040 tonnes of CO2 equivalent emissions per year. These figures are based on 2023 data provided by Red Eléctrica de España on CO2 emissions avoided per kWh produced.
Banco Sabadell’s role
Banco Sabadell played a key role in this financing as sole coordinator of the loan, providing full underwriting support. Nicolas Navas, CFO of Matrix Renewables, and Roger Font, Head of Energy Project Financing at Banco Sabadell, underlined the importance of this transaction, which strengthens Matrix Renewables’ position in the renewable energy sector and marks a step forward in Banco Sabadell’s strategy of supporting the use of renewable energies.
Matrix Renewables was advised on this financing by Linklaters (Madrid office) and Banco Sabadell by Watson Farley Williams (Madrid and UK offices), with technical support from Altermia.
