CIG Invests $870M in Texas Utility-Scale Solar Projects

• CIG invests $870M in Texas solar, powering AI and data centers by next summer, with SYMX Energy at the helm.

Carey International Group (CIG) is set to invest USD 870 million in utility-scale solar projects in Texas, with construction managed by SYMX Energy Corp, a subsidiary of SYMX Holdings Corporation. The photovoltaic parks will connect to the Electric Reliability Council of Texas (ERCOT) grid, with initial plants expected to be operational by next summer. CIG's Chief Investment Officer, Christopher Kane, emphasized the cost-effectiveness of utility-scale solar for powering trends like AI and data center growth.

Based in Orlando, CIG has over 3 GW of solar projects in development and a 1.3 GW PV module production capacity. The company also engages in luxury real estate and aviation projects.

How will CIG's $870M investment impact Texas's solar energy and data center growth?

• Increased Solar Capacity: The $870 million investment will significantly boost Texas's solar capacity, contributing to the state's renewable energy goals and reducing reliance on fossil fuels.
• Job Creation: The construction and operation of these solar projects are expected to create numerous jobs, both temporary during the construction phase and permanent for ongoing operations and maintenance.
• Economic Growth: The investment will stimulate local economies, particularly in rural areas where these solar parks are likely to be located, through increased demand for local services and infrastructure.
• Enhanced Grid Reliability: By connecting to the ERCOT grid, these solar projects will enhance grid reliability and stability, providing a more resilient energy supply to meet growing demand.
• Support for Data Centers: The cost-effectiveness of utility-scale solar will provide a sustainable and economical power source for data centers, which are expanding rapidly in Texas due to the state's favorable business environment.
• Environmental Benefits: The shift to solar energy will reduce carbon emissions and other pollutants, contributing to cleaner air and a healthier environment
• Technological Advancements: The investment may drive technological advancements in solar energy and storage solutions, positioning Texas as a leader in renewable energy innovation.
• Alignment with AI Trends: As AI and data processing demands increase, the availability of renewable energy will support these trends by providing a sustainable power source, aligning with global sustainability goals.