Matrix Renewables, the TPG Rise-backed renewable energy platform, secured €47 million (~$50.47 million) non-recourse financing for constructing a 50 MW solar power project in the La Rinconada municipality area in Seville province of Spain. The project funding was provided by Banco Sabadell, which also acted as the sole loan coordinator. The project construction began in May 2023 and is expected to start operating by the first quarter of 2024.