The development-stage 490MW Duffy solar PV project near Houston, Texas has changed hands; nascent US independent power producer (IPP) Linea Energy has bought the project from London-based Horus Energy.
Linea said that the project is expected to generate around 900GWh of power annually and marks the company’s entry into the Texas market. It also said that it will look into using domestically produced equipment at the Duffy project. The financial details and timeframe of the transaction were not provided.
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Stefano Romanin, CEO of Horus Energy said: “This collaboration highlights our strong capabilities as an excellent solar developer, committed to delivering high quality projects that drive positive environmental and economic impact. We are proud of the Duffy project and the clean energy it will bring to the Houston area, showcasing our dedication to building a sustainable future. We look forward to leveraging our experience and working closely with Linea Energy to make this solar project a resounding success.”
Based in San Francisco, California, Linea Energy was established as an IPP in 2022. It is backed by funding from EnCap Investments LP, a private equity firm predominantly invested in upstream and midstream US oil and gas companies and established an ‘Energy Transition Fund’ in 2019.
The Texas market is one of the biggest in the US. PV Tech Premium recently published a deep dive into the state’s potential for PV manufacturing, featuring a discussion with the CEO of SEG Solar, which recently completed funding for a 2GW Texas TOPCon module plant.
Cassidy DeLine, CEO of Linea Energy said: “Despite recent legislative challenges to the renewable energy sector in Texas, we expect Texas to remain a vanguard of smart renewable policy that brings costs to consumers down, drives investment in the state and ensures the lights stay on.”
