Spanish energy platform Matrix Renewables has acquired a 4.6GW portfolio of utility-scale solar energy projects across the US’ central region.
The company bought the portfolio from US-based solar energy company SolarStone for an undisclosed sum.
Go deeper with GlobalData
In addition to the acquisition, Matrix has signed a broader development joint venture with SolarStone Partners.
This will allow Matrix to increase its backlog of renewable projects in the US and develop new projects in partnership with SolarStone.
The projects will be developed across several central US states.
See Also:
Matrix Renewables US managing director and head Cindy Tindell 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.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataSolarStone CEO Joe DeVito said: “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 served as the financial and legal advisors to Matrix for the deal.
Founded in 2014, SolarStone has developed and sold more than 30 community solar projects currently under construction or in operation.
The company is presently focused on expanding its activities into utility-scale renewable energy projects.
Matrix currently has 2.3GW of renewable capacity currently operational, under construction or nearly ready to build.
This capacity consists of solar photovoltaic (PV), wind and storage projects located across North America, Europe and Latin America.
The company also has a further 7.3GW of capacity in the pipeline and is supported by global alternative asset manager TPG.
In January this year, Matrix signed an agreement to acquire a 440MW solar portfolio in Spain and Italy for an undisclosed sum.
Construction works on the first phase of these projects are expected to begin this year.
