Matrix Renewables Agrees to Acquire 300 MW in Late-stage Development Assets From Alten in Spain and Portugal and Enters into a 2 GW Development Agreement in Spain

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Jun 15, 2021, 08:00 ET

MADRID, June 15, 2021 /PRNewswire/ -- Matrix Renewables, the TPG-backed renewable energy platform, leader and global investor in renewable energy, has entered into an agreement with Alten Renewable Energy, to acquire a 300 MW solar portfolio across Spain and Portugal.

The portfolio, which comprises 5 different assets with a capacity of 300 MW, includes 210 MW of solar PV in Spain and 90 MW in Portugal. Construction on the first phase of these projects is expected to begin in 2021. In addition, Matrix Renewables has also reached an agreement with the Alten management team to develop 2 GW of solar and storage projects in Spain and Portugal.

Iñigo Asensio, Head of M&A at Matrix Renewables, said: "These agreements will allow Matrix to become a relevant renewable energy platform in the Iberian Peninsula. We are confident that it will boost our presence in Spain and Portugal, and we will continue to further explore additional opportunities in Europe, Latin America and the US in our quest to expand, globally."

Carlos Castellanos, Alten co-founder, said: "All members of the Alten team are very excited with this opportunity that allows us to contribute our experience in the Iberian Peninsula and other geographies with Matrix Renewables, one of the most important global renewable energy players."

The new deal will build on Matrix Renewables' existing portfolio in Spain. This consists of late-stage Solar PV projects of 125 MW, which were acquired from Trina Solar in 2020 and 150 MW acquired from Rolwind in 2021, the construction for which is expected to begin later this year. Another 1 GW partnership with Rolwind Group has also been signed to develop several additional assets.

About Matrix Renewables

Matrix Renewables is a renewable energy platform created and backed by global alternative asset manager TPG and its $5 billion impact investing platform The Rise Fund. Matrix Renewables has a 1.5 GW existing portfolio and is focused on growth across Europe, the United States and Latin America. Matrix Renewables benefits from TPG's extensive investing and business building experience, global network, and deep infrastructure and renewable energy expertise. For more information, visit www.matrixrenewables.com or send an email to [email protected]

About Alten Energías Renovables

Alten Energías Renovables ("Alten"), founded in 2006, is a developer and Independent Power Producer (IPP) with a proven track record in the solar PV industry and a team with great expertise in the development, financing, construction and operation of PV power plants in competitive environment. Alten has developed and invested in 13 PV plants (c850 MW), with total investment of c€750m in Spain, Mexico and Sub-Saharan African countries where has also developed a relevant pipeline. www.alten-energy.com

SOURCE Matrix Renewables