Solar panels standing in tall, green grass
Statkraft and Matrix Renewables sign 10-year power purchase agreement in Spain
(7th February 2022, Madrid, Spain): Matrix Renewables, the TPG Rise-backed renewable energy platform, today announced that it has entered into a power purchase agreement (PPA) with Statkraft, Europe’s largest renewable energy producer.
Statkraft will acquire energy from Matrix Renewables’s first operational asset in Spain: a 50 MW solar park in the southern Spanish province of Jaen.
The long-term contract will run for 10 years, commencing in the second half of 2022 once the solar park is fully operational. The solar park is one of the largest in Jaen, and its entire production will be supplied to Statkraft during the PPA term.
Chris Matthews, MD for Development & Markets, Matrix Renewables said, “Statkraft has been a supporter of Matrix since our beginnings, having provided the security and visibility that enabled us to finance our first operational asset in Spain. After signing four Corporate PPAs in 2021, we are excited to be expanding and diversifying our PPA partnerships by signing our first PPA with an energy company in Spain. Statkraft’s experience and proactivity allowed Matrix to optimise revenues in a very volatile market, and we look forward to increasing our cooperation with Statkraft in future projects.”
Simon Kornek, VP for Southern European Origination at Statkraft added, “We are very pleased to continue boosting the energy transition in Spain through the signing of this new PPA with Matrix Renewables. The signing of this PPA concluded the renewable power purchasing process announced by Statkraft to the market in 2021. We expect to announce a similar purchasing process in the near term, continuing our contribution to the development of more long term affordable green energy and offering industrial customers in Spain environmentally and economically sustainable solutions.”
Matrix Renewables was founded in 2020 and is supported by global alternative asset manager TPG and its global impact investing platform TPG Rise. Matrix currently has a significant solar and storage portfolio in operation, under construction, and at different phases of development across Europe, the US and Latin America.
About Matrix Renewables
Matrix Renewables is a renewable energy platform created and backed by global alternative asset manager TPG and its $13 billion impact investing platform TPG Rise. Matrix Renewables’ current portfolio is comprised of 2.1 GW of operational, under construction, or near ready-to-build solar PV projects and a further 2.3 GW pipeline of renewable energy projects under development, across Europe, US and LATAM. For more information, visit www.matrixrenewables.com or send an email to firstname.lastname@example.org