Matrix Renewables, the global renewable energy platform backed by TPG Rise, has secured financing for its 210MWac Stillhouse Solar project in Bell County, Texas.
The financing includes US $376 million in debt provided by MUFG, HSBC, ING, and BBVA, along with preferred equity sourced by Acadia Infrastructure. Microsoft also facilitated the purchase of environmental attribute certificates for the project.
The Stillhouse Solar plant will generate enough clean power to supply 48,862 homes and avoid 185,598 metric tons of CO2 annually. It also features a 15-year power purchase agreement with with affiliates of Hyundai Motor Company (현대자동차). The project is partnering with Sustain Our Future Foundation, contributing nearly $3 million for community benefits through its engagement program.
Construction began in Q2 2024, with commercial operations expected in Q3 2025. Cindy Tindell, Managing Director at Matrix Renewables, expressed enthusiasm for the project’s progress, thanking Microsoft and MUFG for their continued support. Fred Zelaya from MUFG also highlighted the project's importance in advancing the energy transition.
The Stillhouse project also includes a unique approach to community impact, with Sustain Our Future Foundation overseeing contributions and conducting environmental justice reviews to ensure equity throughout the project’s lifecycle.
Matrix Renewables now owns over 8.7GW of projects in the U.S. and 15.6GW globally, focusing on solar, storage, and green hydrogen as it continues to expand its renewable energy footprint.
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