Spain headquartered renewable energy platform Matrix Renewables has purchased 4.6 GW utility scale solar PV projects portfolio in the central US that it will now develop under a joint venture with the original developer SolarStone Partners.
Without disclosing any financial details of the transaction, Matrix said both the partners will also explore and originate additional opportunities across various markets within the US.
Backed by global alternative asset manager TPG, Matrix counts its current portfolio at 2.3 GW of operational, under construction or near ready-to-build (RTB) solar PV projects and another 7.3 GW pipeline of renewable energy projects under development, across North America, Europe and Latin America.
The transaction, explained Matrix, provides it a sizable addition to its US renewable projects backlog while also providing opportunity to add on more under the partnership.
Along with utility scale solar, SolarStone Partners has also been developing commercial and industrial behind-the-meter (BTM)/net meter solar projects in the US. It claims to have developed more than 3 GW of solar, wind and hydro energy.