This financing is supported by BBVA, NORD/LB (which also acts as the agent), and Rabobank, demonstrating the confidence these financial institutions have in Matrix’s renewable energy projects.
The plants, located in the Palencia province of Castilla León and Cuenca province of Castilla La Mancha, will significantly contribute to clean energy generation and carbon emission reduction and the plants are expected to create around 260 full-time jobs during the construction phase.
Construction of the plants began in November 2024. Once operational in the first quarter of 2026, the portfolio will generate enough clean energy to power approximately 78,000 households annually and prevent over 100,000 tons of CO2-equivalent emissions each year.
Matrix Renewables has collaborated with local government authorities and environmental groups to ensure the successful integration of these projects into the local landscape while adhering to rigorous environmental standards.
Nicolas Navas, CFO of Matrix Renewables said, “This financing structure, involving BBVA, NORD/LB, and Rabobank, showcases the growing interest and investment in renewable energy projects by major financial institutions, further strengthening Matrix Renewables' ability to scale its impact in the renewable energy market. The addition of these three solar plants to our growing portfolio will accelerate our efforts to provide clean energy while advancing our commitment to sustainability."
He continued, “We are grateful for the support and partnership of our banking partners in making this financing a success.”
Matrix was advised by Linklaters (Madrid office), while BBVA, NORD/LB, and Rabobank were supported by Watson Farley Williams (Madrid and UK offices) for legal advice and Altermia for technical advisory.
