Matrix Renewables to Invest in Spain’s Solar PV projects of 1GW with Rolwind Group

Matrix Renewables – a renewable energy platform - on Monday announced an initial investment in three Solar PV assets of about 150MW in Huelva, Spain. The investment announced by the company is part of a 1GW strategic partnership agreement, it has signed with the Roland Group.

February 16, 2021. By News Bureau

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Matrix Renewables – a renewable energy platform - on Monday announced an initial investment in three Solar PV assets of about 150MW in Huelva, Spain. The investment announced by the company is part of a 1GW strategic partnership agreement, it has signed with the Roland Group.

The project’s construction work is expected to kick-off in the first half of 2021, and the power generation from the plants is expected to begin in June 2021. The agreement is backed by a bilateral power purchase agreement, thereby strengthening the terms and viability of the deal in the longer run.

After the closing of this investment, the share of Matrix Renewables has reached 275MW of investment in the Spanish portfolio with both ready to build and late-stage development assets. 

Commenting on the agreement, Iñigo Asensio, Head of M&A and Investments of Matrix Renewables said, “Matrix is excited about this new investment in Spain, which represents an important step in expanding our presence in Europe.  These projects have great solar resources, are permitted for storage, and have a good grid connection – we are excited to be working with Rolwind to bring them into operation next year.”

Domingo Estepa, CEO of Rolwind said: “We are delighted to partner with Matrix and TPG in this agreement, which allows us to give a strong boost to our developments in Spain where we currently have more than 1GW in different stages of development.”

Backed by alternative asset manager TPG, and its impact investing platform The Rise Fund; the Matrix Renewables has cleared its ambitions to further expand its clean energy portfolio, not only in Spain but across the Iberian Peninsula of Europe.

Rolwind, a renewable energy leader in Spainwith considerable experience in both wind and solar PV projects. It currently has a portfolio of more than 1.5 GW development projects in Spain and Panama at the late stage of development, with construction expected to start in the coming months.

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