Utility-scale solar energy investment in the United States continues to expand as Matrix Renewables announces the start of commercial operations at its Stillhouse Solar PV project in Bell County, Texas.
The project, with a capacity of 281MWdc / 210MWac, represents an investment of more than $380 million and has now transitioned from construction into long-term operational status, supported by investment tax credit (ITC) funding and converted term debt financing.
Stillhouse Solar includes 15-year power purchase agreements with affiliates of Hyundai Motor Group, reflecting ongoing demand for renewable energy procurement from large industrial and corporate buyers.
Utility-scale solar energy investment in the United States
The project is expected to generate enough electricity to power approximately 48,800 homes while contributing to emissions reductions of around 185,000 metric tonnes of CO2 equivalent annually.
Located within the ERCOT market, the project adds capacity to one of the fastest-growing renewable energy regions in the United States, where solar deployment continues to accelerate in response to demand and policy incentives.
The development also includes a community engagement programme, with funding directed towards local initiatives through collaboration with the Sustain Our Future Foundation.
Financing and project delivery
The financing structure includes participation from Northleaf Capital as a minority investor, alongside debt and credit support from MUFG, HSBC, and ING.
SOLV Energy served as engineering, procurement and construction (EPC) contractor and is also involved in the project’s community benefits programme.
The project reached completion ahead of schedule and below budget, reflecting coordination across development, engineering and financing partners.
Industry context: scaling solar in US energy markets
The United States continues to see strong growth in utility-scale solar, driven by falling technology costs, corporate procurement strategies and federal incentives such as the Investment Tax Credit.
Within this context, utility-scale solar energy investment in the United States remains a central component of energy transition strategies, particularly in regions such as Texas where solar resources and market structures support rapid deployment.
Matrix Renewables reports a global portfolio exceeding 15GW across solar, storage and green hydrogen projects, with continued expansion across key energy markets.
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