-- Matrix Renewables, a renewable energy platform backed by alternative asset manager TPG, on Thursday said it has commenced operations at its 281 megawatts DC/210 megawatts AC Stillhouse Solar PV project in Bell County, Texas.
The facility, constructed at an investment of $380 million, has secured investment tax credit funding and the project's construction financing has been converted to long-term term debt, the company said in a statement.
The plant already has 15-year power purchase agreements with Hyundai Motor Group affiliates, the statement said.
Northleaf Capital is a minority investor in the project, while SOLV Energy provided services related to engineering, procurement, and construction.
Matrix has an over 15.5 gigawatts global portfolio across solar power, battery storage, and green hydrogen projects, including 8.7GW in the US in the form of projects in operation and in various stages of development, the statement said.