Ferrovial Acquires 257 MW Solar Project in Texas

Ferrovial, a sustainable infrastructure builder and operator, announced the acquisition of a 257 MW solar project in Leon County, Texas, U.S. The acquisition agreement includes the construction and operation of the solar project, which is capable of powering over 36,000 households.

The company is investing $72 million in the project, which is its first investment in a renewable project in the U.S., where the company has been operating for 20 years. Once operational, the project will generate approximately 475 GWh annually, avoiding the emission of over 195,000 tons of carbon dioxide annually.

“This project represents the collaborative efforts between energy stakeholders and private entities to provide reliable energy to communities,” said María José Esteruelas, Ferrovial Energy CEO. “Our investment reaffirms the division’s strategy to diversify our multinational presence, focusing on the fastest growing regions for solar PV and in the U.S.”

Besides this project, the company is currently developing a 72 MW PV project with a 60 MW battery energy storage system (BESS) in Houston, Texas, for its client X-Elio.

According to Mercom’s Q1 2024 Solar Funding and M&A Report, almost 10.8 GW of solar projects were acquired in Q1 2024 compared to 11.9 GW in Q1 2023. In a QoQ comparison, 13.7 GW of solar projects were acquired in Q4 2023.

Recently, clearvise, an independent renewable energy power producer, announced the acquisition of a 42 MW Wolfsgarten solar project from ALTUS. It was commissioned and put into operation at the end of April 2024. The electricity generated will be marketed via a Power Purchase Agreement.