December 5, 2024

CRC-IB Advises Matrix Renewables on Tax Credit and Debt Financing for 210MWac Solar Project

Matrix Renewables, the TPG Rise-backed global renewable energy platform, has closed the hybrid tax equity and debt financing for Stillhouse Solar — a 210MWac utility-scale solar project currently under construction in Bell County, Texas. The project is planned to achieve commercial operation in Q3 2025 and has entered into 15-year power purchase agreements with affiliates of a global conglomerate.

CRC-IB served as Matrix’s exclusive financial advisor on the transaction, which includes a minority equity investment from a global private investment firm, the sale of attributes to a Fortune 500 company, and construction to term loan financing from a four-bank syndicate.

“Innovation remains fundamental to financing the energy transition,” said Michael Tatarsky, CRC-IB Managing Director and deal lead. “Our collaboration with Matrix exemplifies how hybrid tax structures have proved effective in expanding capital investment and project deployment.”

For the full press release, please click here.

About Matrix Renewables
Matrix Renewables is a renewable energy platform created and backed by global alternative asset manager TPG and its $19 billion impact-investing platform TPG Rise. Matrix Renewables’ current portfolio is comprised of over 15 GW of solar, storage and green hydrogen projects in Europe, United States, and Latin America. For more information, visit matrixrenewables.com.