Clean energy producer Matrix Renewables has secured the necessary financing to construct three solar plants that will add 157 MWpto its Spanish portfolio. The British company has in fact obtained non-recourse financing of 124 million euros, granted by BBVA, Nord/LB and Rabobank.

Although the financing closed at the end of January, Matrix, backed by impact investment platform TPG Rise, began construction for these projects last November. Located in the provinces of Palencia (Castile and León) and Cuenca (Castile-La Mancha), they will create around 260 jobs during this phase.

Integration into the local landscape
Plant operations are scheduled to start in the first quarter of 2026. In addition to meeting stringent environmental standards, the company has collaborated with local authorities and environmental groups to ensure proper integration of these projects into the local landscape.

Matrix Renewables CFO Nicolás Navas said the financing structure “shows the growing interest and investment in renewable energy projects by financial institutions, further strengthening Matrix's ability to expand its impact in this market”. On the other hand, he said that the addition of these three plants to its portfolio “will accelerate our efforts to offer clean energy and advance our commitment to sustainability”.

BBVA's Managing Director of Project Finance Energy, Borja Sáez de Montagut, explained, “At BBVA, sustainability is at the heart of our strategy. This transaction is a clear example of our commitment to our customers to drive sustainable development, support renewable energy initiatives and advance in the fight against climate change”.

A carbon-neutral future
Nord/LB's Global Head of Structured Finance, Heiko Ludwig, emphasised Nord/LB's commitment “to financing renewable energy projects that accelerate Europe's transition to a carbon-neutral future, creating clean energy for millions of households. These solar parks will make a significant contribution to Spain's renewable energy plans.” 

Finally, Rabobank's Executive Director of Project Finance, Carol Kort, also spoke of commitment, in her case to “being a leading bank in advancing the energy transition”, and asserted, “We are proud to be a trusted partner for Matrix, and this collaboration highlights our dedication to driving change towards a more sustainable, low-carbon future”.

^{Photo: Matrix Renewables}