Matrix Renewables secures US$376 million financing for 210MW Texas solar project

Facebook
Twitter
LinkedIn
Reddit
Email
A Matrix Renewables solar project.
Matrix Renewables has 8.7GW of solar capacity in its US pipeline. Image: Matrix Renewables.

Spain-headquartered clean power developer Matrix Renewables has secured financing for its 210MW Stillhouse Solar project, to be built in Bell County of the US state of Texas.

Financial support for the project comes from a number of sources, including US investor Acadia Infrastructure, which sourced equity and facilitated Microsoft’s purchase of environmental attribute certificates for the project. A total of US$376 million was provided in debt financing from four banks, Japan’s MUFG, the UK’s HSBC, the Netherlands’ ING and Spain’s BBVA.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Matrix has also signed a 15-year power purchase agreement (PPA) with Korean automaker Hyundai to sell power generated at the project. Construction at the facility is currently underway, and Matrix expects to commission the project in the third quarter of 2025.

“We are incredibly pleased to report our financing and construction progress on our Stillhouse solar project,” said Matrix managing director and head of US, Cindy Tindell. “Construction started in Q2 2024, and we expect to start delivering power in 2025 to Hyundai, along with attributes to Microsoft.”

Matrix held a groundbreaking ceremony to mark the beginning of construction work with engineering, procurement and construction (EPC) contract SOLV Energy back in August. The Spanish developer currently has a pipeline of 8.7GW of solar projects across the US, alongside a domestic portfolio that saw announcements made for around 500MW of new capacity in August and April of this year.

17 June 2025
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 17-18 June 2025, will be our fourth 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 2026 and beyond.
7 October 2025
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 7-8 October 2025 is our third PV CellTech conference dedicated to the U.S. manufacturing sector. The events in 2023 and 2024 were a sell out success and 2025 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.
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.
25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

June 9, 2025
Solar manufacturer Qcells has launched a recycling arm, called EcoRecycle, and a recycling plant in the US state of Georgia.
June 9, 2025
Sonnedix has signed a power purchase agreement (PPA) with Renfe to supply 420GWh of renewable energy annually for its commercial operations.
June 9, 2025
Growing political headwinds threaten to dent US solar manufacturing and project deployment, despite a strong start to 2025.
June 9, 2025
US residential solar installer Sunnova has laid off more than half of its workforce, while a subsidiary from Delaware filed for Chapter 11 bankruptcy.
June 6, 2025
rPlus Energies has secured more than US$500 million for an 800MW solar-plus-storage project in Emery County, Utah, US.  
June 6, 2025
Eternal Sun has acquired German solar simulator provider Wavelabs, which has resulted in the formation of a new subsidy, Wavelabs Eternal Sun.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
September 16, 2025
Athens, Greece