Spanish Company Acquires 4.6 GW US Solar PV Portfolio

Matrix Renewables Secures GW Level Utility Scale Solar Portfolio & Enters JV With SolarStone Partners

Spanish Company Acquires 4.6 GW US Solar PV Portfolio

TPG backed Matrix Renewables has entered a strategic partnership with SolarStone Partners in the US to originate newer projects in the country. (Illustrative Photo; Photo Credit: trekandshoot/Shutterstock.com)

  • Matrix Renewables has announced the acquisition of a 4.6 GW utility scale solar PV portfolio in the US from SolarStone
  • It has also signed on to develop the portfolio and also explore opportunities to further expand under a JV with SolarStone
  • The Spanish company said it provides a sizable addition to its US renewable energy projects backlog

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.

About The Author

Anu Bhambhani

Anu Bhambhani is the Senior News Editor of TaiyangNews. Anu is our solar news whirlwind. At TaiyangNews she covers everything that is of importance in the world of solar power.

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