Matrix secures 300m green-financing from Santander CIB: Advisors
Matrix Renewables, TPG Rise’s global renewable energy platform, has closed a €300 million corporate debt financing with Santander Corporate & Investment Banking (Santander CIB).
As a result of this financing, Matrix will be able to accelerate its growth by allocating the funds to the construction of its most advanced projects in its existing markets, including Spain, the US, Italy and Chile.
This corporate debt facility, arranged by Santander Corporate & Investment Banking, is earmarked for repaying existing debts and funding construction and development expenses across a diverse portfolio of renewable, hydrogen, and battery storage projects spanning multiple jurisdictions.
The Advisors
Clifford Chance has provided legal counsel to the renewable energy platform Matrix Renewables (Spain) as borrower and Matrix Renewables (Spain) Holdings as shareholder on a €300 million green
and sustainability-linked net asset value financing. Led by Global Financial Markets Partner José Guardo (pictured left), the team included Senior Associate Antonio Sánchez-Cirujano and Associate Juan Conde-Pumpido, with additional support from Senior Associate Alejandro León (Washington D.C.) and Associates Renato Maria Anastasio and Alessandra Ravazzolo (Milan). Senior Associate Ángel Muñoz provided counsel on hedging matters.
Linklaters has advised Santander Corporate & Investment Banking with a team formed by lawyers from banking: Juan Barona, Javier Hernández, Cristina Muíño and Patricia Rovira. And from public law team: Rocío Beotas.
WFW has advises Banco Sabadell advised on a €179m green loan granted to five Matrix Renewables’ project companies to finance the construction and operation of five Spanish solar photovoltaic plants. The WFW Madrid Finance team was led by Partner Rodrigo Berasategui (pictured right), supported by Senior Associate Jacobo Hermidas and Associates Julia Belmonte and María Heredero. Regulatory expertise was provided by Partner David Diez and Senior Associate Pilar Rozas, with London Projects Partner Katherine Best advising on matters of English law.
