Matrix Renewables, the TPG Rise-backed global renewable energy platform, has acquired a controlling interest in the Pleasant Valley Solar Project from rPlus Energies. Located in Idaho, the 200 MW AC / 261 MW DC solar project will deliver energy to the Idaho Power system. Specifically, output will go into the same grid that supports Meta’s new data center in Kuna, Idaho.
The Pleasant Valley Solar project was awarded a power purchase agreement (PPA) through a negotiated process with Meta and Idaho Power. This PPA was made possible through the collaborative efforts between Meta and Idaho Power to develop a special energy services agreement that will allow Meta access to renewables to support its local operations. The project will begin construction in the third quarter of 2023.
“We are very pleased with the acquisition of the Pleasant Valley Solar Project and look forward to begin construction and finalize project financing over the coming months,” says Cindy Tindell, managing director and head of U.S. for Matrix Renewables. “We highly value rPlus as a partner, including the deep connection with the community that they bring to the table. Matrix is excited to be part of this landmark project in Idaho.”
rPlus Energies, a leader in renewable energy development in the American West, has rapidly developed a portfolio of over 40 projects across the U.S. representing over 14 GW of renewable energy production and electric storage capacity.
In the U.S., Matrix owns over 6 GW of projects in operation and in various stages of development across four different regions (CAISO, MISO, ERCOT and WECC) and continues to expand its pipeline and team. Globally, Matrix’s portfolio already surpasses 13 GW of solar power, battery storage and green hydrogen projects.