Matrix Renewables, the TPG Rise-backed global renewable energy platform, has secured a 4.6 GW portfolio of utility scale solar energy projects across the central US and has signed a broader development joint venture with the projects’ original developer, SolarStone Partners. The transaction provides Matrix with a sizeable addition to its US renewable project backlog, as well as a further opportunity to develop additional projects through a new partnership with SolarStone Partners.
Matrix and SolarStone will jointly develop the 4.6 GW portfolio, while exploring and originating additional opportunities across different markets in the US.
Cindy Tindell, Managing Director, and Head of US for Matrix Renewables, said: “Matrix is very excited to partner with SolarStone in the further development of this portfolio and looks forward to our ongoing collaboration on new opportunities across the country.”
Joe DeVito, CEO of SolarStone, added: “We could not ask for a better partner than Matrix Renewables to help SolarStone expand its US utility scale renewables business.”
Cohn Reznick Capital and Norton Rose Fulbright acted as financial and legal advisors to Matrix.
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