Matrix Renewables acquires controlling stake in a 261-MWdc solar project

Global renewable energy platform Matrix Renewables announced the acquisition of a controlling interest in the 261-MWdc (200-MWac) Pleasant Valley Solar Project located in Idaho, United States, from leading renewable energy developer rPlus Energies.

The project will provide clean energy through a power purchase agreement (PPA) to be used by the utility Idaho Power's power grid while also supporting the new data center owned by the digital giant Meta.

Solar Project Development

Especially, endeavors between Idaho Power and Meta rolled out a special Energy Services Agreement which was designed to grant Meta seamless access to reliable renewable energy resources. This mutually beneficial arrangement allows Meta to tap into the solar project's green energy output, bolstering its commitment to sustainability while helping to advance the region's renewable energy goals.

As the project developer, rPlus has owned over 40 renewables and storage projects across the U.S., with a total capacity of over 40 GW. The construction of the Pleasant Valley project is expected to commence in the third quarter of this year.

"We highly value rPlus as a partner, including the deep connection with the community that they bring to the table. Matrix is excited to be part of this landmark project in Idaho," said Cindy Tindell, Managing Director and Head of U.S. for Matrix Renewables.

"rPlus is proud to partner with Matrix Renewables on this impactful project for Idaho and its growing renewable energy infrastructure," said Luigi Resta, President and CEO of rPlus Energies.

This project will contribute to fueling the region's energy independence and continued economic development.

"Both companies are committed to growing and partnering with the Ada County community as this solar project is brought online and through the lifespan of the project," added Resta.

Matrix Renewables was founded and backed by global alternative asset manager TPG and its $17 billion impact-investing platform TPG Rise. The company's portfolio comprises projects in solar power generation, battery storage and green hydrogen production, surpassing 13 GW.

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