Texas solar boom outpaces coal as Origis Energy secures $1.4B in funding

Texas is expanding its role in solar energy, with its solar manufacturing sector now supplying equipment nationwide. The state has also become a leader in installed solar capacity, despite facing political resistance. By 2024, electricity from utility-scale solar projects in Texas began surpassing coal-generated power on a monthly basis. This shift came as the state’s solar industry grew rapidly.

A major setback for coal occurred in 2025 when the Sandy Creek power plant, operational since 2013, suffered a severe failure. The facility is not expected to resume operations until March 2027.

Origis Energy, a solar-plus-storage developer, has strengthened its position in the market. In March, the firm secured $545 million to support its 700-megawatt solar pipeline in Texas. It has now added $900 million in new financing, bringing its total to over $1.4 billion in just three months.

The latest funding includes $650 million in credit facilities and a $250 million Letter of Credit. Leading institutions like First Citizens Bank, ING Capital, Natixis, and Santander arranged the deal. Origis Energy now has more than 20 gigawatts of solar and storage projects in development, with 5 gigawatts nearing completion. Texas continues to grow its solar capacity, with renewable energy increasingly replacing coal. Origis Energy’s latest financing will help accelerate its projects, reinforcing the state’s position as a key player in the transition to cleaner power.