Matrix Renewables, the global renewable energy platform backed by TPG Rise, has secured financing for its 210MWac Stillhouse Solar project. Acadia Infrastructure provided preferred equity and facilitated Microsoft’s purchase of environmental attribute certificates. Additionally, MUFG, HSBC, ING, and BBVA contributed US $376 million in debt financing.

Located in Bell County, Texas, the Stillhouse Solar project features a 210MWac solar PV capacity and a 15-year power purchase agreement with Hyundai affiliates. The project has also partnered with the Sustain Our Future Foundation, contributing nearly $3 million to support community benefits.

Once operational, Stillhouse Solar will power the equivalent of 48,862 homes, enhance grid resiliency, reduce CO2 emissions by 185,598 metric tons annually, and provide meaningful community benefits. Construction is underway, with commercial operations expected by Q3 2025.

“We are incredibly pleased to report our financing and construction progress on our Stillhouse solar project. Construction started in Q2 2024, and we expect to start delivering power in 2025 to Hyundai, along with attributes to Microsoft,” said Cindy Tindell, Managing Director and Head of U.S. for Matrix Renewables. “We thank Microsoft and MUFG for their ongoing support and look forward to a long relationship with our partners.”

“MUFG is pleased to have led this financing for Matrix. Stillhouse will make an important contribution to the energy transition” said Fred Zelaya, Managing Director, MUFG.