Matrix Renewables to buy 300 MW of Iberian solar projects from Alten

Matrix Renewables, the renewable energy platform backed by asset manager TPG, has signed a deal to acquire a 300-MW solar project portfolio in the Iberian Peninsula from Alten Renewable Energy.

Moreover, Matrix and the Alten management have agreed to develop 2 GW of solar and storage projects in Spain and Portugal.

The asset purchase agreement concerns a total of five late-stage projects, including 210 MW of solar photovoltaic (PV) assets in Spain and 90 MW in Portugal. The first phase of these projects is seen to enter construction this year.

Matrix already has a solar portfolio in Spain that includes 125 MW of late-stage projects acquired from Trina Solar last year and 150 MW acquired from Rolwind earlier in 2021. A partnership with the latter will also be focused on the development of an additional 1 GW across several sites.

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