TPG-backed renewables platform Matrix Renewables has acquired a 284-MW DC solar project in Texas from utility-scale solar projects developer OCI Solar Power.
The new addition to Matrix’ portfolio is the late-stage development Stillhouse Solar Project located in Bell County, according to a statement published Wednesday. The project is set to commence construction in 2024, followed by the start of commercial operations in 2025.
“We are very pleased with the acquisition of the Stillhouse project, and we look forward to completing power offtake, procurement and financing for the project in the coming months,” said Cindy Tindell, managing director at Matrix.
OCI, a unit of South Korean energy and chemicals company OCI Co Ltd （KRX:010060）， has been working on the project for more than two years, having completed land acquisition, environmental review and electrical interconnection studies.
The acquisition of Stillhouse follows last month’s commissioning of a solar-plus-storage site in Kern County, California. Matrix’ Gaskell West Project houses 142 MW DC of solar energy plus 80 MWh of battery storage. The facilities are fully contracted, holding five long-term power purchase agreements with utilities and cities in California.
Matrix’ portfolio currently comprises 12.2 GW in renewable energy and storage projects in Europe, North America and Latin America. In the US alone, the company owns nearly 6 GW of projects in various stages of development.
