Texas Is Absolutely Rolling In New Solar Power Plants

The article highlights Texas's continuing leadership in solar power development despite political and legislative challenges aimed at curbing the industry. A prime example is the Ash Creek Solar project, a 408-megawatt facility located in Hill County, Texas, strategically positioned between Austin and Dallas. Initially developed by Orion Renewable Energy Group and Eolian starting in 2016, the project gained momentum after Primergy Solar acquired it in 2021. A significant factor in its advancement was a long-term power purchase agreement (PPA) with Microsoft, which committed to buying the entire output, thereby providing financial certainty and attracting investors. In March 2024, Primergy secured $588 million in financing from a consortium of global financial institutions, including major Japanese banks MUFG and SMBC, as well as European banks like BNP Paribas and Crédit Agricole. This was supplemented by an additional $350 million in tax equity financing from a Fortune 500 telecom company and Truist Bank, bringing the total investment close to $