Banco Sabadell has extended a substantial €179 million green loan to five Matrix Renewables' project entities, earmarked for the development and operation of five solar plants across Spain's Castilla Leon and Extremadura regions. These projects collectively boast an impressive capacity of 239MW, marking a significant stride in Spain's renewable energy landscape.
Established in 1881 and headquartered in Alicante, Banco Sabadell stands as a stalwart in Spain's banking sector, with a global footprint spanning 15 countries. This green loan underscores the institution's steadfast commitment to fostering sustainability and bolstering Spain's transition towards clean energy sources.
Matrix Renewables, the beneficiary of this financing initiative, is a renewable energy platform backed by the esteemed global alternative asset manager TPG and its $19 billion impact-investing arm, TPG Rise. With a diverse portfolio encompassing 14GW of solar, storage, and green hydrogen projects across Europe, the United States, and Latin America, Matrix Renewables epitomizes innovation and progress in the renewable energy sector.
Rodrigo Berasategui, Partner at Watson Farley Williams' Madrid finance team, expressed satisfaction at facilitating this pivotal transaction. He remarked, “We are delighted to have been able to help Banco Sabadell successfully close this important transaction within a tight time frame. This deal highlights both their and Matrix Renewables' commitment to driving Spain's energy transition and WFW's expertise advising on major renewables project financings.”
The advisory efforts of Watson Farley Williams were complemented by Linklaters, who provided legal counsel to Matrix Renewables throughout the process.
Through collaborative endeavors such as this green loan agreement, Banco Sabadell, Matrix Renewables, and their respective partners are paving the way for a greener, more sustainable future, exemplifying the transformative potential of renewable energy investments in driving positive environmental impact and fostering economic growth.
