TPG Rise-backed Matrix Renewables has secured $322mn in green and sustainable corporate financing from Santander CIB, propelling the company's growth and solidifying its presence in core markets. 🌍
Key Details:
🌞 Strengthening Market Presence: The financing will expedite Matrix Renewables' expansion in Spain, the US, Italy, and Chile by funding the construction of its advanced development portfolio.
⚡ Development Pipeline: Currently managing over 14 GW of solar, storage, and green hydrogen projects, with more than 2.5 GW in advanced stages.
Strategic Objectives:
🌎 Global Expansion: Scale up renewable energy projects across new markets across the world.
📈 Portfolio Growth: Diversify and strengthen its asset base in markets where they are already located.
With the latest funding, Matrix Renewables has now raised ~$800mn across four key deals in the US and Spain, including:
– $283mn Debt Financing (Feb '24): Sourced from MUFG for US projects
– $190mn Loan (Apr '24): Secured from Banco Sabadell for Spanish assets
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
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