Madrid-based clean power platform Matrix Renewables has entered into a partnership with Spanish renewable energy company Energia Aliaval to co-develop at least 300MW of Italian solar farms in Italy.
The development of new Italian solar farms partnership further builds on the company’s presence in Italy, said Matrix. With this project, Matrix Renewables reach close to an impressive 1GW projects in different phases of development.
Matrix Renewables head of M&A Inigo Asensio said: “With this new co-development agreement for the Italian Market, we continue our geographical growth and portfolio diversification. Through this partnership and others like it, we are executing on our strategy to become a significant solar photovoltaic and energy storage player in Italy in the near term.”
The company had arrived in the Italian market in September 2021. It started through a co-development partnership with country’s Horus Green Energy investment for nearly 420 MW of solar plants in Sicily and Lazio.
Presently, Matrix Renewables’ portfolio consists of around 2.1 GW of operational, under-construction, or near shovel-ready solar photovoltaic (PV) projects. Further, around 2.7 GW of renewable energy schemes are under development across Europe, the US, and Latin America.
Energía Aljaval is a Spanish developer and investor in renewable energies, focusing on photovoltaic, wind, and biomass.
TPG Rise Climate backs the Matrix Renewables. TPG Rise has a rich experience investing in clean energy generation and storage. Since 2018, the Rise Fund has made multiple investments in Fourth Partner Energy, India’s largest distributed solar company. In 2020, The Rise Fund financed and launched the above-mentioned Matrix Renewables. TPG Rise is also an investor in Form Energy, a technology company developing a new class of cost-effective, multi-day energy storage systems. TPG Rise Climate has recently agreed to invest $500 million in Nexttracker, a provider of intelligent, integrated solar tracker and software solutions. The investments back Nexttracker to carve out a separate entity from Flex.