EIB Inks €50 Million Deal with Matrix Renewables for New Solar PV Plants in Spain

The European Investment Bank (EIB) has signed a €50 million green loan agreement with Matrix Renewables for the development of five new solar photovoltaic plants in Spain. These plants, with a combined installed capacity of 240 MW, are located in the regions of Castilla León and Extremadura.

The EIB's financing will support the design, construction, and operation of these solar plants, aligning with its objective to back €1 trillion in green investments by 2030. This loan also supports the REPowerEU plan aimed at enhancing energy security by reducing EU dependence on fossil fuel imports.

Alessandro Izzo, EIB Director of Equity, Growth Capital and Project Finance, stated, “With this operation, the EIB continues to accelerate the energy transition in Spain by increasing renewable energy generation capacity. We are also delighted to support Independent Power Producers in their development and deployment efforts, fundamental to accelerating renewable generation investments.”

Nicolás Navas, CFO of Matrix Renewables, expressed enthusiasm about the partnership, saying, “We are thrilled to partner with the EIB in this significant project that not only advances our mission of sustainable energy development but also contributes to Spain’s and Europe’s broader energy transition goals. This project highlights Matrix’s commitment to innovation and sustainability. The development of these new solar plants will provide clean energy to thousands of homes and businesses, reinforcing our dedication to creating a greener future.”

The new solar plants are expected to be fully operational by the end of 2025 and are supported by the EU flagship programme InvestEU.