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Houston company breaks ground on North Texas solar project

A Houston company has started construction on a Waco-area solar farm. Photo courtesy of INEOS

A Houston-area company has broken ground on a new 310-megawatt solar project located in Bosque County, Texas.

League City-based INEOS Olefins & Polymers and Florida-based NextEra Energy Resources announced the groundbreaking on INEOS Hickerson Solar, which will reportedly save over 310,000 tons of CO2 every year.

“INEOS O&P USA is committed to leading the petrochemical community in adopting renewable energy solutions,” says CEO Mike Nagle in a news release. “This solar project is a crucial step in our global efforts to reduce the carbon footprint of INEOS businesses.”

The INEOS Hickerson Solar project will be constructed, owned and operated by a subsidiary of NextEra Energy Resources, and the output will aim to cover the net purchased electricity load for all 14 of INEOS O&P USA’s manufacturing, fractionation and storage facilities. Commercial operation is expected by December 2025.

The project is expected to produce 730,000 megawatt-hours of clean energy annually, which is the equivalent to the annual electricity use of over 68,000 homes. INEOS hopes this will significantly contribute to reducing greenhouse gas emissions by approximately 310,000 tons per year.

This follows the recently signed renewable power purchase agreement with NextEra Energy Resources, which is the world's largest generator of renewable energy from wind and sun.

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A View From HETI

XGS Energy plans to “aggressively expand” its team in Houston this year thanks to its latest round of investments. Photo via Getty Images

XGS Energy, a California-headquartered geothermal power company with a major presence in Houston, has closed $13 million in new financing that included new investors Aligned Climate Capital, ClearSky, ClimateIC and WovenEarth Ventures, in addition to inside investors.

The company plans to “aggressively expand” its team in Houston this year, according to a news release.

“We are facing global energy supply challenges of unprecedented scale and urgency,” Kevin Kimsa, Managing Partner at ClimateIC, said in the release. “The XGS team is uniquely primed to meet the moment, bringing together innovative technology and leading engineering talent with the deep experience in infrastructure development and financing critical to deploying large-scale energy systems at speed.”

As part of the financing deal, Mano Nazar, ClearSky Senior Advisor and the former Chief Nuclear Officer of NextEra Energy, will join the XGS Energy Board of Directors.

“XGS’s advanced geothermal technology is uniquely positioned to deliver abundant energy to the grid faster than any other baseload energy technology at a time of unprecedented demand for energy resources,” Nazar said in a news release. “We are excited to partner with XGS to deliver on their mission of sustainable, reliable, and scalable geothermal energy.”

XGS is known for its next-gen closed-loop geothermal well architecture. The company saw massive growth in the Houston market last year and recently completed a 100-meter field demonstration in central Texas. The new funding supports the XGS’s multi-gigawatt project pipeline.

The recent financing also builds on an oversubscribed Series A round led by Constellation Technology Ventures, VoLo Earth Ventures, and Valo Ventures that closed last year.

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