The Matrix Renewables group, backed by TPG Rise, has finalized a €40 million non-recourse financing deal with UniCredit to develop and construct six photovoltaic solar power plants in Italy. Spread across the regions of Sicily, Campania, and Lombardy, these infrastructures have a total capacity of 40 MW. This is Matrix’s first financing in Italy, a strategic market for its expansion.
A financing structure led by UniCredit
UniCredit acted as the sole global coordinator and bookrunner for this transaction. The bank provided full underwriting support, ensuring the project’s financial viability. This collaboration strengthens UniCredit’s role in financing energy infrastructure in Italy, a sector experiencing increasing investment momentum.
Project progress and operational timeline
Construction of the solar plants began in September 2024 and is expected to be completed in the first quarter of 2025. During this phase, approximately 67 full-time jobs will be created, contributing to the local economies of the three regions involved. Once operational, the plants will generate enough electricity to meet the needs of 27,500 Italian households.
Legal and technical structuring
Matrix Renewables was advised by Greenhorse as a consultant. On the legal side, UniCredit received expertise from Legance. The technical aspects of the project were overseen by Fitchner, while Baringa acted as the market strategy advisor.
