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Texas company secures $200M for solar project near Houston

coming soon to HOU

The project will take over more than 1,000 acres of former farmland about an hour outside of Houston. Photo via Getty Images

An Austin-based company has scored $200 million in financing for a solar energy project it’s building in Liberty County.

Recurrent Energy’s 134-megawatt Liberty Solar project, about 50 miles northeast of Houston, is scheduled to start operating in 2024. The facility will occupy more than 1,000 acres of former farmland about six miles south of Dayton.

Last year, Recurrent Energy indicated the project represented an investment of $155 million, according to paperwork filed with the Texas Comptroller of Public Accounts.

The company lined up $120 million in financing through Rabobank, Nord LB, and U.S. Bank in the form of construction debt, a letter-of-credit facility, and a term facility. In addition, U.S. Bancorp Impact Finance, a subsidiary of U.S. Bank, is providing $80 million in tax equity.

“Liberty Solar is the second project financing that Recurrent Energy has closed in North America this summer, indicating execution on our strategy to retain greater ownership of projects in select markets,” Ismael Guerrero, CEO of Recurrent Energy, says in a news release.

Recurrent Energy announced in May 2023 that it had signed purchase agreements for all of the Liberty County site’s solar power capacity. The Austin company, a subsidiary of Canadian Solar, says Liberty Solar will generate enough energy to power an estimated 15,000 homes per year.

The five companies that agreed to buy the solar power are:

  • San Francisco-based software company Autodesk
  • Cambridge, Massachusetts-based biotech company Biogen
  • Semiconductor manufacturer EMD Electronics, the North American electronics business of Germany-based pharmaceutical giant Merck
  • Boston-based home goods retailer Wayfair
  • An unidentified healthcare company

The Recurrent Energy project will expand solar capacity in the Midcontinent Independent System Operator (MISO) region, which includes most of Liberty County. The nonprofit organization manages electricity in 15 states and Canada’s Manitoba province.

The solar project is outside the territory of the Energy Reliability Council of Texas (ERCOT), which oversees the power grid for about 90 percent of Texas.

Recurrent Energy already operates solar projects in California and Mississippi as well as Argentina, Australia, Brazil, Canada, Italy, Japan, Mexico, and the United Kingdom.

The Liberty Solar project isn’t the only solar facility being developed in Liberty County.

Spanish renewable energy company X-ELIO said in February 2023 that it had begun construction on a 60-megawatt battery energy storage system in Liberty County that it’s pairing with a 72-megawatt solar energy facility. The two projects are being built on the same site.

The solar energy project, set to start operating in early 2024, will support ERCOT’s energy needs in the Houston area. X-ELIO says the project represents an investment of more than $130 million.

Power generated by the facility will be sold to BASF, a chemical conglomerate based in Florham Park, New Jersey. Any surplus energy will be stored by the battery system. BASF maintains its regional petrochemical headquarters in Houston and a chemical manufacturing plant in Pasadena.

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7 must-attend Houston energy transition events in May 2025

On the Agenda

Editor's note: May is here, and there's a full slate of must-attend energy transition events this month. Mark your calendars for these top events, including OTC 2025, CHARGE North America, and more.Please note: this article may be updated to include additional events.

May 5-9 — OTC 2025

Offshore Technology Conference 2025 will cover the the theme of "Waves of Innovation," covering offshore energy excellence." The premier five-day conference willhighlight the groundbreaking advancements in offshore energy, showcasing the industry's relentless drive for innovation. As global energy needs evolve, the "Waves of Innovation" theme reflects OTC’s commitment to sustainable, cutting-edge technologies that are shaping the future of offshore energy.

Industry leaders will come together to explore new frontiers in offshore energy, emphasizing the operational efficiency, environmental responsibility, and technical excellence required to meet the challenges of tomorrow’s energy landscape.

The Opening Ceremony kicks off Monday, May 5 at 9 am. The event continues at NRG Park through May 9. Click here to register.

May 12-15 — Enverus Evolve Conference

Staying ahead of the curve in the energy sector is critical. This conference is designed to equip energy leaders with foresight in the energy market, providing cutting-edge technological know-how, sessions and networking opportunities industry leaders, and offering practical guidance on how to apply technology to solve big problems.

This event begins May 12 at Hilton Americas Houston. Click here to register.

May 12-13 — Carbon Hub Annual Meeting

The fifth-annual Carbon Hub Annual Meeting will bring together industry, academic, and research leaders at the forefront of the energy and materials transitions. Attendees will have access to thought-provoking discussions and opportunities to connect with innovators across the field. The full agenda has yet to be released, but featured speakers include David Hatrick, Vice President, Strategic Marketing and Innovation, Huntsman Advanced Materials; Luca de Rai, Vice President, Research & Development Energy, Prysmian Group; and Dhaval Shah, General Manager, Corporate Technology & Innovation, SABIC.

This event begins May 12 at Rice University. Click here to register.

May 20-21 — Geothermal Transition Summit North America

This two-day summit serves as the meeting point for the geothermal and oil and gas industries and will focus on geothermal energy, including scaling plants and navigating state regulations. The event promises 50 expert speakers, 15 tech demos, and access to eight networking events featuring approximately 250 industry decision makers.

This event begins May 20 at Norris Conference Centers - Houston CityCentre. Click here to register.

May 27-28 — 6th American LNG Forum

Join LNG industry professionals, innovators, and policymakers to discover groundbreaking technologies that are driving the future of liquified natural gas. Topics will include market dynamics and decarbonization strategies, offering attendees the chance to connect, learn, and become part of the LNG revolution.

This event begins May 27 at the Westin Galleria Houston. Click here to register.

May 28-30 — CHARGE North America

This intimate, immersive experience is tailored to forward-thinking energy professionals. The conference includes hands-on interactive workshops led by top strategists; real-world case studies; and insights from leading speakers on resilient branding, consumer expectations, and climate action. Attendees will engage in panel discussions on sustainability and energy diversification and enjoy exclusive networking opportunities with global executives and innovators.

This event begins May 28 at The Ion. Click here to register.

May 29-30 — 5th Annual American Hydrogen Forum

Connect with hydrogen industry leaders, innovators, and policymakers at the American Hydrogen Forum. Discover groundbreaking technologies and strategies focusing on hydrogen fuel cell technology, hydrogen energy, and low-carbon hydrogen solutions.

This event begins May 29 at the Westin Galleria Houston. Click here to register.

Solugen names Houston founder as new president of energy and water

new leaders

Houston-based biochemical producer Solugen has hired chemical industry veteran James Begeal as its new president of energy and water.

In his new position, Begeal leads the commercial strategy for the energy and produced-water sectors, “bringing our innovative chemistry directly to leading oil and gas operators, accelerating revenue growth, and deepening our commercial pipeline,” Solugen said in a news release.

Begeal has more than 25 years of experience in the chemical industry, including roles at oilfield technology company Baker Hughes and chemical company Clariant. In 2016, he co-founded NexGen Chemical Technologies, a Cypress-based provider of alternative natural-gas sweeteners. Begeal served as chief operating officer and chief technology officer at NexGen, which was acquired by League City-based Foremark Performance Chemicals in 2023. He then joined Foremark, which was acquired by investment firm CC Industries in 2024.

Begeal is no stranger to Solugen, having previously served as a company advisor.

“James is a builder — he knows what it takes to launch, scale, and win in this space,” says Solugen CEO Gaurab Chakrabarti. “We’re excited to have him bring that same builder’s mindset to Solugen as we double down on delivering solutions that meet our customers’ toughest challenges.”

The company also recently named Carlos Diaz as its new VP of strategy and international business. Diaz worked for 18 years at Baker Hughes and will lead Solugen's commercial expansion efforts into Latin America and beyond, according to a company representative.

Solugen, founded in 2016, raised $357 million in a series C venture capital round. The 2021 round catapulted Solugen into the unicorn category, meaning the private company is valued at more than $1 billion.

Weatherford partners with Abu Dhabi-based AI company to boost efficiency

eyes on ai

Houston-headquartered oilfield service company Weatherford International announced a strategic Memorandum of Understanding (MOU) with AIQ, an Abu Dhabi-based artificial intelligence company, to develop innovative solutions for the energy sector.

"We are excited to partner with AIQ to bring innovative, AI-driven solutions to the oil and gas industry,” Girish Saligram, president and CEO of Weatherford, said in a news release. “This strategic partnership allows us to deliver cutting-edge technologies that empower our customers to maximize their operational efficiency, enhance automation, and reduce costs. By combining our strengths, we are leading the way in helping operators modernize their workflows and achieve greater success in today's rapidly evolving energy landscape.”

The collaboration aims to use Weatherford's software and hardware solutions with AIQ's AI-driven systems. Weatherford and AIQ hope this union will significantly enhance operational efficiency across global oil and gas facilities, help operators to optimize their production workflows and reduce downtime.

The companies have developed the new Modern Edge Integration, which will combine AIQ's AI technology with Weatherford's Modern Edge program. It will enable operators to scale their work processes.

In addition, Weatherford's Universal Normalizer will work with AIQ's capabilities to combine operational and financial analysis. Customers will also now be able to procure software needs via a comprehensive industrial SaaS platform with the WFRD Software Launchpad, which can eliminate the issues associated with managing multiple systems and vendors, and provide a single point of access for all Weatherford and partner-built applications.

"This partnership marks another step in AIQ's mission to build partnerships that accelerate the deployment of impactful AI systems across the energy value chain,” Magzhan Kenesbai, Acting Managing Director of AIQ, said in a news release. “By integrating our advanced AI-driven tools with Weatherford's energy-specific technology, we are driving greater efficiencies to the industry through the development of scalable, automated applications. Together, we are set to empower operators to optimize their workflows, reduce downtime, and achieve unparalleled operational excellence.”

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