Spanish developer Matrix Renewables has signed a 147MW solar power purchase agreement (PPA) with Korean automaker Hyundai Motor Group in Texas, US.
The power for the offtake agreement will be provided by the 284MW Stillhouse Solar project located in Bell County, which is expected to begin commercial operations in the second half of 2025.
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Sung Hwan Bae, VP and head of corporate business planning team at Hyundai Motor Group, said: “As a smart and sustainable mobility solutions provider, we will further pursue environmental efforts and expand renewable energy solutions into our worldwide facilities.”
Although Matrix Renewables did not disclose what modules it will use to build the Stillhouse Solar project, last year it secured a 2.1GW module supply agreement with cadmium telluride thin-film manufacturer First Solar for projects in the US and Spain.
In the US, the Spanish developer has a portfolio of more than 6.7GW projects in operation and various stages of development across four regions: California Independent System Operator (CAISO), Midcontinent Independent System Operator (MISO), Electric Reliability Council of Texas (ERCOT) and Western Electricity Coordinating Council (WECC).
Three of these markets – CAISO, MISO and the West (non-ISO) – have the most solar capacity queued up as of the end of 2023, with 150GW+ for each.
In its home country of Spain, the developer recently secured €179 million (US$191 million) in financing for a 239MW solar PV portfolio of projects located in the central regions of Extremadura and Castille and León.