Hyundai Engineering said on the 28th that it held a groundbreaking ceremony and began full-scale construction for the Hillsboro solar power plant under way in Texas. The ceremony, held on the 27th local time at the site in Hill County, Texas, was attended by Lee Seung-won, head of the Energy Division at Hyundai Engineering; Lee Kyung-eun, consul general of the Republic of Korea in Houston; Peter Branham, chief operating officer (Chief Operating Officer) for production at the Hyundai Motor Alabama plant; Christopher Whitehead, chief administrative officer (Chief Administrative Officer) at the Mobiis Alabama plant; lenders; and executives from local EPC companies.
The 200MW Hillsboro solar power plant aims for completion and commercial operation in Dec. 2027 and will generate about 476GWh of electricity annually. Through a power purchase agreement, it is expected to support the RE100 goals of key North American business sites of Hyundai Motor Group, including the Hyundai Motor Alabama plant, the Kia Georgia plant, and the Mobiis Alabama plant.
This project is Hyundai Engineering's first overseas renewable energy investment and development project to oversee the entire process—from permits to a power purchase agreement (PPA) and project financing (PF)—after acquiring the project rights in 2024. Last month, Hyundai Engineering signed financing agreements totaling about $310 million (about 460 billion won) with four financial institutions at home and abroad, including Korea Development Bank (KDB).