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$524M Texas Hill Country solar project powered by Hyundai kicks off

powering up

An AI-generated image of the nearly 2,800-acre Lucy Solar Project. Image courtesy Hyundai Engineering & Construction

Corporate partners—including Hyundai Engineering & Construction, which maintains a Houston office—kicked off a $524 million solar power project in the Texas Hill Country on Jan. 27.

The 350-megawatt, utility-scale Lucy Solar Project is scheduled to go online in mid-2027 and represents one of the largest South Korean-led investments in U.S. renewable energy.

The solar farm, located on nearly 2,900 acres of ranchland in Concho County, will generate 926 gigawatt-hours of solar power each year. That’s enough solar power to supply electricity to roughly 65,000 homes in Texas.

Power to be produced by the hundreds of thousands of the project’s solar panels has already been sold through long-term deals to buyers such as Starbucks, Workday and Plano-based Toyota Motor North America.

The project is Hyundai Engineering & Construction’s largest solar power initiative outside Asia.

“The project is significant because it’s the first time Hyundai E&C has moved beyond its traditional focus on overseas government contracts to solidify its position in the global project financing market,” the company, which is supplying solar modules for the project, says on its website.

Aside from Hyundai Engineering & Construction, a subsidiary of automaker Hyundai, Korean and U.S. partners in the solar project include Korea Midland Power, the Korea Overseas Infrastructure & Urban Development Corp., solar panel manufacturer Topsun, investment firm EIP Asset Management, Primoris Renewable Energy and High Road Energy Marketing.

Primoris Renewable Energy is an Aurora, Colorado-based subsidiary of Dallas-based Primoris Services Corp. Another subsidiary, Primoris Energy Services, is based in Houston.

High Road is based in the Austin suburb of West Lake Hills.

“The Lucy Solar Project shows how international collaboration can deliver local economic development and clean power for Texas communities and businesses,” says a press release from the project’s partners.

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Soon, the country will have IONNA's "Rechargery" locations thanks to the support of Texas-based Toyota and other automakers. Rendering courtesy of IONNA

Texas automaker invests in first-of-its-kind EV charging station initiative

plugging in

A charging network founded by eight of the world’s top automakers have announced that they have broken ground on their first electric vehicle charging station.

IONNA will work to transform a historic district gas station into a new "Rechargery" in North Carolina. The initiative is backed by Plano-based Toyota, along with BMW, General Motors, Honda, Hyundai, Mercedes-Benz, Kia, and Stellantis.

With plans to open locations across the country, the station will provide 10 covered parking bays and will be accessible to both CCS and NAC chargers. The charging ports will be capable of up to 400 kilowatts and 800+ Volts. The site will also include an indoor driver’s lounge, coffee service, food/beverage, restrooms, and WIFI.

“We are excited to announce our support of IONNA to deploy DC fast chargers throughout the U.S. and Canada,” Ted Ogawa, president and CEO of Toyota Motor North America, says in a news release. “We believe this will not only promote the adoption of BEVs and increase customer confidence in the technology, but it will provide our Toyota and Lexus customers with access to IONNA’s rapidly growing charging network in North America.”

IONNA will “enable urban and long-distance EV mobility for all with over 30,000 ultra-fast-and-reliable charging points by 2030” according to the company.

IONNA also announced Jackie Slope as the Chief Technology Officer. Slope previously worked with customer experiences at Crypto.com Arena and Madison Square Garden.

“Having spent my career raising the bar around the customer experience I am excited to find ways to innovate and elevate the charging experience by serving the customer above all else in this new and exciting industry,” Slope said in a news release.

While the North Carolina location is the first of its kind, IONNA plans to expand its Rechargery stations around North America soon.

In other EV news, Hyundai Motor and Kia launched a project on Sept. 25 to develop lithium iron phosphate (LFP) battery cathode material. Hyundai Steel and cathode material market leader EcoPro BM will aim to synthesize materials directly without creating a precursor for LFP battery cathode material production

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5 Houston energy transition news headlines to know for July 2026

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Editor's note: Early July has brought exciting developments in the energy transition sector. Here are the five most-read news stories published on EnergyCapitalHTX from July 1-15, 2026, from KBR's Singapore agreement to Yara's Texas City investment.

1. Houston startup secures $5M to turn oilfield wastewater into critical minerals

Altililion

Houston-based startup Altillion has secured $5 million in seed funding to accelerate the commercialization of its proprietary IRIS and ALIX technologies, which convert oilfield-produced water into valuable minerals. Altillion says the funding will go toward pilot facilities and commercial deployments as the company looks to scale in the U.S. Continue reading.

2. Houston's KBR to provide tech for Singapore SAF plant

Houston engineering and technology contractor KBR has been picked as the technology provider for what’s expected to be Asia's first commercial-scale ethanol-to-jet sustainable aviation fuel (SAF) plant. KBR will provide technology licensing and Front-End Engineering Design (FEED) services based on its PureSAF technology. Continue reading.

3. Texas City ammonia plant acquired by Yara in $1.3 billion deal

Yara North America, a subsidiary of Norwegian fertilizer and ammonia producer Yara International, has agreed to buy an ammonia production plant in Texas City for $1.3 billion. The seller is GCA Holdings, an affiliate of Texas City-based chemical manufacturer Gulf Coast Ammonia, which is owned by private equity firms Lotus Infrastructure Partners and MB Energy. Continue reading.

4. 13 Houston energy sector companies make U.S. News' best places to work

A new U.S. News & World Report ranking of the best employers has named two dozen Houston-based companies among the best companies to work in the South, and more than half are part of the region's booming energy sector. Continue reading.

5. Houston energy startup launches to power AI data centers with Microsoft agreement

Buoyed by a purchase agreement from Microsoft, Houston-based Joulent recently launched to build power plants that meet the electricity demands of AI data centers and other computing-heavy industries. Continue reading.

Houston cleantech startup closes $17M round to tap into hot geothermal sector

fresh funding

Houston-area startup Hephae Energy Technology Corp. has closed a $17.8 million Series A financing round to commercialize its geothermal technology.

The round was co-led by Pennsylvania-based Susquehanna Sustainable Investments, which invests in early-stage climatech companies, and Copenhagen-based Underground Ventures, which focuses on geothermal energy startups. Alfa8, Baruch Future Ventures, Centaurus Capital LP, Elemental Impact, Exa Ventures, Future Ventures, Grantham Foundation for the Protection of the Environment, New System Ventures and True North Institute joined the round, along with existing Houston-based investor Nabors Industries. Hyphae reports in a news release that the Series A round brings the company's total capital raised to $24.7 million.

Hephae develops ultra-high-temperature downhole sensing, measurement, communications and control systems that can withstand the heat of geothermal sites, which are hotter and deeper than traditional oil and gas reservoirs. The company's Pandora210 system can operate at up to 400 degrees Fahrenheit.

Hephae reports that it plans to use the new funding to commercialize its Pandora210 tool and to launch research and development into systems that can withstand temperatures of up to 570 degrees Fahrenheit. Houston-based Fervo Energy, for instance, recently tapped its hottest geothermal well to date in western Utah, showing temperatures above 555 degrees Fahrenheit.

"Commercial deployment represents a major milestone in our mission to scalable, always-on, emission-free power globally, with a world-class team to tackle this problem," Steve Krase, CEO of Hephae Energy Technology, said in the release." This investment enables Hephae to transition from development to scale, delivering the ultra-high temperature drilling technologies needed to support the rapid growth of the geothermal industry in the US and international markets."

Hephae has been collaborating with Fervo Energy in the field. The company told the Houston Business JournalHouston Business Journal this spring that it expected its Pandora210 technology to be deployed at its Utah sites.

“Fervo is encouraged by the early progress of our collaboration with Hephae, whose novel high-temperature innovations have the potential to contribute positively to EGS economics, unlock higher-energy geothermal resources, and further cement the competitiveness of next-generation geothermal power," Elliot Howard, director of drilling and completions at Fervo, added in the release.

As the geothermal industry continues to scale, Hephae says it aims for its technology to help companies "unlock hotter, deeper resources that result in lower produced energy costs."

The Spring-based startup was founded in 2020 by CEO Steve Krase and CTO John Clegg. Krase previously launched Navigate Energy Services, which was acquired by Nabors in 2013. Clegg is also an industry veteran and has held numerous leadership positions at energy companies, including Weatherford, NOV, Schlumberger and others.

Houston clean energy events announce keynote speakers from Fervo, Phillips 66

where to be

Two Houston energy institutions will host their signature events this September and have named industry leaders as their keynote speakers.

The Rice Alliance Energy Tech Venture Forum and Greentown Lab's Climatetech Summit kick off Sept. 16. The events are part of Houston Energy and Climate Startup Week and Houston Energy and Climate Week.

The two-day Energy Tech Venture Forum will bring together climatech startups and professionals from around the world to hear pitches, participate in one-on-one office hours and connect with energy innovators.

Sean Maher, chief economist at Phillips 66, will open the forum with a keynote address on the macroeconomic forces shaping the energy industry. Maher also serves as vice president of investor relations at Phillips 66. He previously launched Third Gear Investments, a Houston-based energy investment firm.

Ira Ehrenpreis, founder and managing partner of DBL Partner, which manages more than $1 billion of capital and invests in companies driving social change, will present the keynote on the second day of the forum, Sept. 17. Ehrenpreis is a board member of Tesla and an investor of SpaceX. He will share insights on commercializing breakthrough technologies and what investors are looking for in today's energy innovations.

Applications for the Energy Tech Venture Forum close July 17. Register for the event here.

Fresh off a landmark IPO, Tim Latimer, co-founder and CEO of Houston-based Fervo Energy, will present the keynote at Greentown's Climatetech Summit. Latimer was recently named one of Fast Company's 2026 Visionaries of the Year.

He will be joined by Houston-based SCF Partners' David Baldwin, who will moderate the discussion. The conversation will focus on the timing of Fervo's IPO, what Latimer would have done differently at the early stages of the business, and why the company chose Houston as its headquarters.

The Climatetech Summit will bring together philanthropists, executives and innovators in the energy transition space. Greentown member startups will also present their pitches at the event. Learn more and secure tickets here.

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