Matrix Renewables secures renewables financing from Santander CIB
Published by Theodore Reed-Martin,
Editorial Assistant
Energy Global,
Matrix Renewables and Santander Corporate and Investment Banking (CIB) have successfully closed a €300 million corporate debt financing. The financing will allow Matrix to expedite the growth of its platform by allocating funds towards the construction of its advanced development portfolio in all of its existing markets, including Spain, the US, Italy, and Chile. Matrix, a leader in ESG practices, successfully secured this financing as green and sustainability-linked, aligning it with the green and sustainability-linked loan principles.
This facility is central to Matrix Renewables' goal of long-term growth, optimisation of the equity deployed, and management of its renewable energy generation projects. It capitalises on its existing advanced development portfolio comprising of 2.5 GW out of the 14 GW total portfolio across Matrix geographies.
“This facility reinforces Matrix Renewables' position as a leader in the renewable energy sector and accelerates the deployment of clean energy resources,”commented Luis Sabate, President of Matrix Renewables.
“This financing allows the bank to advance in its aim of promoting the use of renewable energy by providing financing support, reinforcing Banco Santander’s commitment to sustainability and energy efficiency, and aligning with its goal of achieving a more efficient and responsible economy,” remarked Benoît Felix, Global Head of Structured Finance at Santander CIB
Matrix was advised by Clifford Chance’s Madrid Office and Santander CIB was advised by Linklaters, also in Madrid, on the legal side and E&Y as Valuation Advisor and financial model auditor.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Spring 2024 issue
The Spring 2024 issue of Energy Global starts with a guest comment from Field on how battery storage sites can serve as a viable solution to curtailed energy, before moving on to a regional report from Théodore Reed-Martin, Editorial Assistant, Energy Global, looking at the state of renewables in Europe. This issue also hosts an array of technical articles on electrical infrastructure, turbine and blade monitoring, battery storage technology, coatings, and more.
Read the article online at: https://www.energyglobal.com/other-renewables/09052024/matrix-renewables-secures-renewables-financing-from-santander-cib/
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