Matrix Renewables inks funding for 82-MW solar portfolio in Colombia

• Madrid-based platform Matrix Renewables, produced by asset manager TPG, has authorized a non-recourse long-term financing agreement for its roughly 82-MW Los Llanos solar portfolio in Colombia.

The financing, claimed to be the very first of its kind for running solar (PV) or wind power plants in Colombia, was authorized with Colombian business bank Bancolombia SA (NYSE: CIB) and the Inter-American Development Bank (IDB), Matrix claimed on Friday.

According to Matrix, Los Llanos is the biggest functional PV portfolio in Colombia. The complex includes three plants of about 27 MW-- Bosques Solares de Los Llanos 1, 2 and also 3-- situated in the district of Puerto Gaitan, Meta department.

"This contract is noteworthy in a variety of means. It stands for the first long-term funding of a renewable resource project in Colombia, demonstrating the international as well as domestic financial market's assistance of renewable resource projects in the country", Matrix CFO Nicolas Navas said. "We have considerable plans in Colombia as well as intend to have the ability to reach more of these long-lasting financing arrangements in the future", he added.

Matrix Renewables' existing portfolio contains 1.3 GW of functional, under-construction, or near ready-to-build solar photovoltaic (PV) projects, and also a more 2.3 GW of renewable energy plans in the development pipe. Matrix creates its projects in Europe, the United States and also Latin America.