Matrix Renewables, backed by TPG Rise, has successfully closed a €300 million corporate debt financing in partnership with Santander Corporate & Investment Banking (Santander CIB). The financing aims to accelerate Matrix’s growth by facilitating the construction of its advanced development portfolio across various markets, including Spain, the US, Italy, and Chile. Notably, the financing is Green and Sustainability-Linked, aligning with the Green and Sustainability-Linked Loan Principles.
This financing plays a pivotal role in Matrix Renewables’ strategic objective of long-term growth and optimization of renewable energy generation projects. With an existing advanced development portfolio comprising 2.5GW out of a total of 14GW across Matrix geographies, the company aims to reinforce its position as a leader in the renewable energy sector.
Luis Sabate, President of Matrix Renewables, emphasized the significance of this milestone, stating, “This facility reinforces Matrix Renewables’ position as a leader in the renewable energy sector and accelerates the deployment of clean energy resources.” Nicolas Navas, CFO, expressed gratitude for the partnership with Santander CIB, highlighting its importance in strengthening their standing in the sector.
Benoît Felix, Global Head of Structured Finance at Santander CIB, underscored the bank’s commitment to promoting renewable energy and sustainability. He stated, “This financing allows the bank to advance in its aim of promoting the use of renewable energy by providing financing support, reinforcing Banco Santander’s commitment to sustainability and energy efficiency, and aligning with its goal of achieving a more efficient and responsible economy.”
Matrix was advised by Clifford Chance’s Madrid Office, while Santander CIB received legal counsel from Linklaters, also based in Madrid. E&Y served as the Valuation Advisor and financial model auditor for Santander CIB.
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