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Matrix Renewables to buy 440-MW solar portfolio in Spain, Italy

Matrix Renewables Spain SL agreed to buy a 440-MW solar portfolio consisting of five projects in Spain and Italy. Terms of the deal were not disclosed.

Under the transaction, Matrix will acquire a 400-MW solar plant in Spain and a 40-MW solar farm in Italy. Construction on both projects will begin in 2022.

In November 2021, Matrix Renewables announced its acquisition of an initial 91-MW solar portfolio in Italy from developer Solaer.

Matrix Renewables is backed by alternative asset manager TPG Growth LLC and its impact investing platform, The Rise Fund.