The Stillhouse project has a total nameplate capacity of 281MWdc / 210MWac and includes 15-year power purchase agreements with affiliates of Hyundai Motor Group. In addition, the project has partnered with Sustain Our Future Foundation, to support social initiatives through its community engagement program in the United States. Stillhouse Solar will provide clean power to the equivalent of 48,862 homes, strengthen grid resiliency, avoid 185,598 metric tons of CO2 equivalent each year, and deliver community benefits.
Matrix Managing Director and Head of U.S. Cindy Tindell noted, “This transaction marks the major milestone in the project’s lifecycle, transitioning from construction into long-term operations, where we were able to work with our partners and stakeholders to optimize the capital structure to deliver stable, renewable energy generation within the ERCOT market.”
Construction of the project was completed ahead of schedule and below budget, supported by strong collaboration among development, engineering, financing, and construction partners.
Northleaf Capital participated as a minority investor, and Acadia Infrastructure facilitated a hyperscale’s purchase of environmental attribute certificates derived from the project. MUFG, HSBC, and ING Capital LLC provided the term debt and letter of credit support. SOLV Energy served as the EPC on the project and is a partner in the community benefits program.
