Matrix Renewables, Hyundai sign 147MW solar PPA in Texas

Facebook
Twitter
LinkedIn
Reddit
Email
The Stillhouse Solar project in Texas, US is expected to begin commercial operations in H2 2025. Image: Matrix Renewables.

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.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

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.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

October 7, 2025
Juniper Green Energy through its subsidiary Juniper Green Sigma Eight has signed a 70MW power purchase agreement with renewable energy giant Tata Power. 
October 7, 2025
Solar PV will account for almost 80% of the 4.6TW of new renewable power expected to be added by 2030, according to the International Energy Agency (IEA).
October 7, 2025
Doral Renewables has secured a PPA with an unnamed 'corporate buyer' for its 430MW Cold Creek solar-plus-storage project in Texas.
October 7, 2025
US independent power producer (IPP) Arevon has begun operations at two utility-scale solar projects in Indiana.
Premium
October 6, 2025
Talon PV aims to be the first US company to safely manufacture TOPCon cells at scale, backed by European technology and a crucial First Solar licensing deal.
October 6, 2025
US utility AES Corporation is reportedly in discussions to be acquired by Global Infrastructure Partners (GIP), a subsidiary of global asset owning giant BlackRock.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK