Hyundai Engineering Secures $310M Financing for Texas Solar Power Plant Project
Hyundai Engineering has secured approximately $310 million (KRW 460 billion) in project financing (PF) to support the development of a large-scale solar power plant in Texas, United States, marking a significant step in the company’s expansion into global renewable energy investment projects.
According to industry sources, the financing agreement was signed on April 29 with a consortium of four financial institutions: Korea Development Bank (KDB), Crédit Agricole CIB, OCBC Bank, and Siemens Financial Services.
The funding will be directed toward the development of the Hillsboro Solar Power Plant, located in Hill County, Texas, approximately 100 kilometers from Dallas.
The planned facility will have a capacity of 200 megawatts (MW) and is expected to generate around 476 gigawatt-hours (GWh) of electricity annually once operational. This output is sufficient to power approximately 46,000 U.S. households each year.
Construction is scheduled to begin in the first half of 2026, with commercial operations targeted for late 2027.
Hyundai Engineering stated that the project is particularly significant as it represents the company’s first overseas renewable energy initiative managed across the full development lifecycle — from project acquisition and permitting to power purchase agreement (PPA), financing, and investment execution.
The company emphasized that the deal marks a strategic shift beyond its traditional Engineering, Procurement, and Construction (EPC) business toward a broader investment-development model in global energy markets.
Hyundai Engineering has recently expanded its presence in renewable energy and hydrogen sectors, including solar and hydrogen production initiatives in South Korea and the United States. The company says it plans to further strengthen its position in the global clean energy and renewable infrastructure market.
An official from Hyundai Engineering stated that the financing agreement represents a “key milestone in accelerating its renewable energy investment and development business in North America.”
Source: en.sedaily.com
