Watson Farley & Williams (“WFW”) advised Banco Sabadell on a €179m green loan granted to five Matrix Renewables’ project companies to finance the construction and operation of five Spanish solar photovoltaic plants.
Located in Spain’s Castilla León and Extremadura regions, the projects have a combined total capacity of 239 MW. Once operational, they will generate sufficient clean energy to power 144,000 households annually and help reduce carbon emissions.
Founded in 1881, Alicante-headquartered Banco Sabadell is one of Spain’s leading banks with a presence in 15 countries worldwide. Supporting Matrix Renewables with this green loan highlights its commitment to supporting sustainability and Spain’s energy transition.
Matrix Renewables is a renewable energy platform created and backed by global alternative asset manager TPG and its US$19b impact-investing platform TPG Rise. Its current portfolio comprises 14 GW of solar, storage and green hydrogen projects in Europe, the United States, and Latin America.
The WFW Madrid Finance team that advised Banco Sabadell was led by Partner Rodrigo Berasategui, 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.
Rodrigo commented: “We are delighted to have been able to help Banco Sabadell successfully close this important transaction within a tight time frame. This deal highlights both their and Matrix Renewables’ commitment to driving Spain’s energy transition and WFW’s expertise advising on major renewables project financings.
Matrix Renewables was advised by Linklaters.
