Spanish solar companies establish strategic partnership to co-develop more than 300 MW of photovoltaic solar panels in Italy

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Matrix Renewables has a portfolio of solar PV projects at various stages of development in Europe, the United States and Latin America. Image: Unsplash

Spanish developer Matrix Renewables has signed a strategic partnership agreement with Spanish renewable energy company Energía Aljaval to co-develop at least 300 MW of solar projects in Italy.

Backed by investor TPG-Rise, Madrid-headquartered Matrix Renewables has nearly 1GW of projects in various stages of development across Italy. The financial terms of the partnership with Energía Aljaval have not been announced.

Matrix Renewables’ head of mergers and acquisitions, Iñigo Asensio, said the company intends to “become an important player in solar photovoltaic and energy storage in Italy in the short term”.

“With this new co-development agreement for the Italian market, we continue our geographic growth and the diversification of our portfolio,” added Asensio.

The Italian solar sector is currently angered by a government decision to claw back profits from renewable energy plants which are currently benefiting from high electricity prices.

Companies will be required to repay the resulting profit boost to the government until the end of 2022, under measures announced last month.

Nevertheless, Italy has recently been the focus of many solar investments. Just last week, Swiss fund manager SUSI Partners, through its Energy Transition Fund (SETF), launched a solar PV development platform in Italy that aims to deploy 500 MW of solar PV scale after identifying Italy as a key growth market.

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