Hyundai E&C Breaks Ground on 350MW Solar Project in Texas
Hyundai E&C began construction on its 350MW LUCY solar plant in Texas, part of a consortium aiming to supply clean energy to global corporations.
- 350 MW
- KRW 750 billion
- 926 GWh
What Happened
Hyundai E&C, part of the 'Team Korea' consortium, held a groundbreaking ceremony on January 27 for the LUCY solar project in Dallas, Texas. The consortium includes Hyundai E&C, Korea Midland Power, KIND, EIP Asset Management, and the Global PIS Fund. The 350MW plant will be built on a site equivalent to 1,653 soccer fields, with construction led by local firm Primoris.
Signed project fund investment and business rights acquisition agreements.
Completed permits and due diligence for local power grid operation.
Achieved financing and completed preliminary processes like ground surveys and detailed design.
Held groundbreaking ceremony, commencing main construction.
Construction completion and start of commercial operation.
926 GWhGWh
Enough to power roughly 260,000 four-person households using an average of 300 kWh per month.
Why this matters
This project signals Hyundai's entry into the North American renewable energy market, supporting RE100 targets by providing stable clean electricity to companies like Starbucks.
Terms in This Story
- VPPA
- Virtual Power Purchase Agreement; a contract where a buyer agrees to purchase renewable energy credits from a specific project without taking physical delivery.
- RE100
- A global initiative where companies commit to sourcing 100% of their electricity from renewable sources.
- SMR
- Small modular reactor; a type of nuclear reactor that is smaller and can be factory-built.
Summarised from the linked release; details can be imperfect — always verify against the original source.