MATRIX RENEWABLES ANNOUNCES ACQUISITION OF STILLHOUSE SOLAR PROJECT FROM OCI SOLAR POWER

MIAMI, June 28, 2023 /PRNewswire/ -- Matrix Renewables, the TPG Rise-backed global renewable energy platform, today announced that it has acquired the Stillhouse Solar Project, a late-stage development 284 MWdc solar project in Bell County, Texas (ERCOT North), from OCI Solar Power, a leading developer of utility-scale solar projects. The transaction follows up on Matrix's Gaskell West Project (totaling 142 MWdc solar with 80 MWh of battery storage in CAISO) achieving Commercial Operation Date ("COD") earlier this month and shows strong continuity in Matrix's plan to become a leading clean energy platform in the U.S.

Across the U.S., Matrix owns near 6 GW of projects in various stages of development across four different regions (CAISO, MISO, ERCOT and WECC) and continues to expand its pipeline and team to capitalize on the large demand for renewable energy in the U.S. Globally, including Matrix's presence in Spain, Italy and Chile, Matrix's footprint already surpasses 12 GW of solar power, battery storage and green hydrogen projects.

Cindy Tindell, Managing Director and Head of U.S. for Matrix Renewables, said, "We are very pleased with the acquisition of the Stillhouse project, and we look forward to completing power offtake, procurement and financing for the Project in the coming months. We appreciate the partnership with the OCI team and their efforts to get the projects to this stage."

"We have been working to develop the Stillhouse Solar Project for over two years. All land acquisition, environmental review and electrical interconnection studies are complete.   It is a tremendous project and we're excited to pass the baton to Matrix to take the project through construction and into operations, providing more clean energy to the Texas electrical grid," said Charles Kim, President & CEO, OCI Solar Power.

Construction of the project is slated for 2024 with commercial operations commencing in 2025.

About Matrix Renewables

Matrix Renewables is a renewable energy platform created and backed by global alternative asset manager TPG and its $17 billion impact-investing platform TPG Rise. Matrix Renewables' current portfolio is comprised of 12.2 GW of solar,  storage and green hydrogen projects in Europe, North America, and Latin America.  For more information, visit www.matrixrenewables.com or send an email to [email protected]

Contact:

Inmaculada Bejarano
ibejarano@webershandwick.com

Ignacio Correa
[email protected]
+34917458657

SOURCE Matrix Renewables