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M&A Deal Summary

Matrix Renewables Acquires Gaskell West

On April 7, 2022, Matrix Renewables acquired renewable energy company Gaskell West from Canadian Solar

Acquisition Highlights
  • This is Matrix Renewables’ 2nd transaction in the Renewable Energy sector.
  • This is Matrix Renewables’ 1st transaction in the United States.
  • This is Matrix Renewables’ 1st transaction in California.

M&A Deal Summary
Date 2022-04-07
Target Gaskell West
Sector Renewable Energy
Buyer(s) Matrix Renewables
Sellers(s) Canadian Solar
Deal Type Divestiture

Target

Gaskell West

Kern County, California, United States
Gaskell West consists of 2 and 3 project of 105 MWac solar plus 80 MWh energy storage based in Kern County, California.

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Buyer(S) 1

Buyer

Matrix Renewables

Madrid, Spain
Category Company
Founded 2020
Sector Renewable Energy
DESCRIPTION

Matrix Renewables is a renewable energy platform comprised of 2.1 GW of operational, under construction, or near ready-to-build solar PV projects and a further 2.7 GW pipeline of renewable energy projects under development, across the US, Europe, and Latin America. Matrix Renewables was founded in 2020 and is based in Madrid, Spain.

DEAL STATS #
Overall 2 of 3
Sector: Renewable Energy M&A 2 of 3
Type: Divestiture M&A Deals 2 of 3
State: California M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-01 Trina Solar-1GW of Solar PV Projects

Spain

Trina Solar's 1GW of Solar PV Projects included in the transaction are currently operational, under construction or in late stage development nearing ready-to-build status across Spain, Chile, Colombia, and Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-28 Stillhouse Solar Project

Bell County, Texas, United States

Stillhouse Solar Project is a developer of utility-scale solar projects. Stillhouse Solar Project is based in Bell County, Texas.

Buy -

Seller(S) 1

SELLER

Canadian Solar

Guelph, Ontario, Canada
Category Company
Founded 2001
Sector Semiconductors
Employees17,113
Revenue 6.0B USD (2024)
DESCRIPTION

Canadian Solar a vertically integrated provider of solar modules, specialized solar products and solar power plants. Canadian Solar is committed to improve the environment and dedicated to provide advanced solar energy products, solutions and services to enable sustainable development around the world. Canadian Solar was founded in 2001 and is based in Guelph, Ontario.

DEAL STATS #
Overall 6 of 6
Sector: Renewable Energy M&A 6 of 6
Type: Divestiture M&A Deals 6 of 6
State: California M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-17 Big Fish SPV S.r.l.

Milano, Italy

Big Fish SPV S.r.l. owns a solar project currently under development in the provinces of Catania and Siracusa, Sicily, for a total capacity in excess of 250 MW. The project, which has secured grid connection and preliminary land rights, has applied for permits and authorizations at the end of 2019.

Sell -
Mergr

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