ADVERTISEABOUT USSUBMIT A STORYSUBSCRIBETERMS OF USEPRIVACY POLICY
Visit our family of Brands

Solar company acquires Houston manufacturer to expand production capacity, meet growing demand

M&A moves

Included in the deal, is the newly leased facility that spans 567,140 square feet and can accommodate 2.5 gigawatts of solar module manufacturing capacity. Photo via Pixabay

Solar solution company TOYO Solar announced it has agreed to acquire 100 percent of membership interests in Houston area’s Solar Plus Technology Texas LLC.

Included in the deal, is the newly leased facility that spans 567,140 square feet and can accommodate 2.5 gigawatts of solar module manufacturing capacity. The goal is to expand it to 6.5 gigawatts by 2029. TOYO Solar LLC will make a capital contribution of $19.96 million to TOYO Solar LLC.

"By acquiring Solar Plus, we will accelerate our development and leverage our team's proven manufacturing excellence, as well as the extensively established customer relationships and the brand of our sister company, Vietnam Sunergy, a Tier 1 Bloomberg NEF solar manufacturer," Junsei Ryu, chairman and CEO of TOYO, says in a news release. "We are confident that our expansion in the U.S. will effectively deliver a comprehensive solar technology solution, addressing bottlenecks for developers, meeting local content requirements for U.S. solar projects, and enhancing TOYO's competitive advantage."

The factory construction of Phase 1 has been completed, and equipment will begin to arrive by early 2025.The facility's first 1 gigawatts production is expected to commence by mid-2025 with production capacity increasing to 2.5 gigawatts by the end of 2025 according to the company.

As the demand for American-made solar panels continues amid grid reliability issues in Texas, TOYO hopes it can help with its sustainable energy solutions after having success in Vietnam and Ethiopia.

"Our strategy is to supply end customers with solar solutions that are technologically advanced, highly reliable, and cost competitive,” Ryu says in the release. “We are committed to building a robust global solar supply chain structure that efficiently and competitively serves the U.S. market and other regions, adapting to a dynamic policy environment.”

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

DOE proposes cutting $1.2 billion in funding for hydrogen hub

funding cuts

The U.S. Department of Energy has proposed cutting $1.2 billion in funding for the HyVelocity Gulf Coast Hydrogen Hub, a clean energy project backed by AES, Air Liquide, Chevron, ExxonMobil, Mitsubishi Power Americas and Ørsted.

The HyVelocity project, which would produce clean hydrogen, appears on a new list of proposed DOE funding cancellations. The list was obtained by Latitude Media.

As of November, HyVelocity had already received $22 million of the potential $1.2 billion in DOE funding.

Other than the six main corporate backers, supporters of HyVelocity include the Center for Houston’s Future, Houston Advanced Research Center, Port Houston, University of Texas at Austin, Shell, the Texas governor’s office, Texas congressional delegation, and the City of Fort Worth.

Kristine Cone, a spokeswoman for GTI Energy, the hub’s administrator, told EnergyCapital that it hadn’t gotten an update from DOE about the hub’s status.

The list also shows the Magnolia Sequestration Hub in Louisiana, being developed by Occidental Petroleum subsidiary 1PointFive, could lose nearly $19.8 million in federal funding and the subsidiary’s South Texas Direct Air Capture (DAC) Hub on the King Ranch in Kleberg County could lose $50 million. In September, 1Point5 announced the $50 million award for its South Texas hub would be the first installment of up to $500 million in federal funding for the project.

Other possible DOE funding losses for Houston-area companies on the list include:

  • A little over $100 million earmarked for Houston-based BP Carbon Solutions to develop carbon storage projects
  • $100 million earmarked for Dow to produce battery-grade solvents for lithium-ion batteries. Dow operates chemical plants in Deer Park and LaPorte
  • $39 million earmarked for Daikin Comfort Technologies North America to produce energy-efficient heat pumps. The HVAC company operates the Daikin Texas Technology Park in Waller
  • Nearly $6 million earmarked for Houston-based Baker Hughes Energy Transition to reduce methane emissions from flares
  • $3 million earmarked for Spring-based Chevron to explore development of a DAC hub in Northern California
  • Nearly $2.9 million earmarked for Houston-based geothermal energy startup Fervo Energy’s geothermal plant in Utah

Houston ranks No. 99 out of 100 on new report of greenest U.S. cities

Sustainability Slide

Houstonians may be feeling blue about a new ranking of the greenest cities in the U.S.

Among the country’s 100 largest cities based on population, Houston ranks 99th across 28 key indicators of “green” living in a new study from personal finance website WalletHub. The only city with a lower ranking is Glendale, Arizona. Last year, Houston landed at No. 98 on the WalletHub list.

“‘Green’ living means a choice to engage in cleaner, more sustainable habits in order to preserve the planet as much as possible,” WalletHub says.

Among the study’s ranking factors are the amount of greenhouse gas emissions per capita, the number of “smart energy” policies, and the presence of “green job” programs.

In the study, Houston received an overall score of 35.64 out of 100. WalletHub put its findings into four buckets, with Houston ranked 100th in the environment and transportation categories, 56th in the lifestyle and policy category, and 52nd in the energy sources category.

In the environment category, Houston has two big strikes against it. The metro area ranks among the 10 worst places for ozone pollution (No. 7) and year-round particle pollution (No. 8), according to the American Lung Association’s 2025 list of the most polluted cities.

In the WalletHub study, San Jose, California, earns the honor of being the country’s greenest city. It’s followed by Washington, D.C.; Oakland, California; Irvine, California; and San Francisco.

“There are plenty of things that individuals can do to adopt a green lifestyle, from recycling to sharing rides to installing solar panels on their homes,” WalletHub analyst Chip Lupo said in the report. “However, living in one of the greenest cities can make it even easier to care for the environment, due to sustainable laws and policies, access to locally grown produce, and infrastructure that allows residents to use vehicles less often. The greenest cities also are better for your health due to superior air and water quality.”

Leader tapped for Texas 'nuclear renaissance' and more energy news to know

Trending Topics

Editor's note: The top energy transition stories for the start of October include Texas' big bet on nuclear energy, ERCOT's innovative efforts, CenterPoint's capital improvement plan, and more. Read on for the five most-read EnergyCapitalHTX stories published Oct.1-15, 2025:


1. Policy adviser tapped to lead ‘nuclear renaissance’ in Texas

Jarred Shaffer has been named director of the new Texas Advanced Nuclear Energy Office. Photo via LinkedIn.

As Texas places a $350 million bet on nuclear energy, a budget and policy adviser for Gov. Greg Abbott has been tapped to head the newly created Texas Advanced Nuclear Energy Office. Jarred Shaffer is now director of the nuclear energy office, which administers the $350 million Texas Advanced Nuclear Development Fund. The fund will distribute grants earmarked for the development of more nuclear reactors in Texas. Continue reading.

2. ERCOT steps up grid innovation efforts to support growing power demand

ERCOT has launched its new Grid Research, Innovation, and Transformation (GRIT) initiative to help resolve grid challenges and meet growing demand. Photo via Getty Images

As AI data centers gobble up more electricity, the Electric Reliability Council of Texas (ERCOT) — whose grid supplies power to 90 percent of Texas — has launched an initiative to help meet challenges presented by an increasingly strained power grid. ERCOT, based in the Austin suburb of Taylor, said its new Grid Research, Innovation, and Transformation (GRIT) initiative will tackle research and prototyping of emerging technology and concepts to “deeply understand the implications of rapid grid and technology evolution, positioning ERCOT to lead in the future energy landscape.” Continue reading.

3. CenterPoint launches $65B capital improvement plan

CenterPoint Energy has launched a $65 million capital improvement plan that will focus on building and maintaining a “resilient” electric grid. Photo via centerpointenergy.com

To support rising demand for power, Houston-based utility company CenterPoint Energy has launched a $65 billion, 10-year capital improvement plan. CenterPoint said that in its four-state service territory — Texas, Indiana, Minnesota and Ohio — the money will go toward building and maintaining a “resilient” electric grid and a safe natural gas system. Continue reading.

4. UH projects propose innovative reuse of wind turbines and more on Gulf Coast

The Houston projects involve the innovative reuse of oil rig platforms and wind turbines. Courtesy rendering

Two University of Houston science projects have been selected as finalists for the Gulf Futures Challenge, which will award a total of $50 million to develop ideas that help benefit the Gulf Coast. Sponsored by the National Academies of Science, Engineering and Medicine’s Gulf Coast Research Program and Lever for Change, the competition is designed to spark innovation around problems in the Gulf Coast, such as rising sea levels, pollution, energy security, and community resiliency. The two UH projects beat out 162 entries from organizations based in Alabama, Florida, Louisiana, Mississippi, and Texas. Continue reading.

5. Energy startup Base Power raises $1 billion series C round

Base Power, founded by Justin Lopas and Zach Dell, has closed one of the largest venture capital deals of the year. Photo courtesy Base Power.

Austin-based startup Base Power, which offers battery-supported energy in the Houston area and other regions, has raised $1 billion in series C funding—making it one of the largest venture capital deals this year in the U.S. Continue reading.

View All Listings