Banco Sabadell has granted a €179m green loan to five Matrix Renewables’ project companies to finance the construction and operation of five Spanish solar plants.
Located in Spain’s Castilla Leon and Extremadura regions, the projects have a combined total capacity of 239MW.
Founded in 1881, Alicante-headquartered Banco Sabadell is one of Spain’s leading banks with a presence in 15 countries worldwide.
Supporting Matrix Renewables with this green loan highlights its commitment to supporting sustainability and Spain’s energy transition.
Matrix Renewables is a renewable energy platform created and backed by global alternative asset manager TPG and its $19bn impact-investing platform TPG Rise.
Its current portfolio comprises 14GW of solar, storage and green hydrogen projects in Europe, the United States, and Latin America.
Watson Farley Williams’ Madrid finance team advised Banco Sabadell led by partner Rodrigo Berasategui.
He said: “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.
Matrix Renewables was advised by Linklaters.