Construction has officially begun on the Lucy Solar Project, a 350-MW utility-scale solar farm in Concho County, Texas, following a groundbreaking ceremony held this week in Dallas after weather forced a venue change.

The $524 million project ranks among the largest Korean-led renewable energy investments in the United States. Once operational in mid-2027, the facility is expected to generate about 926 GWh of electricity annually—enough to power roughly 65,000 Texas homes—while supporting an estimated 500 construction jobs. Local officials say the project will contribute around $5 million per year in property tax revenue, providing long-term funding for schools, infrastructure and essential services in Concho County.

Lucy Solar is being developed by a consortium of South Korean and U.S. partners known as “Team Korea,” which includes Hyundai Engineering & Construction, Korea Midland Power (KOMIPO), Korea Overseas Infrastructure & Urban Development Corporation (KIND), PIS Fund, Topsun and EIP Asset Management, alongside Texas-based co-developer High Road Energy Marketing. For Hyundai E&C, the project represents its largest solar development outside Asia, while KOMIPO is advancing its third U.S. greenfield renewable project.

The solar farm will cover nearly 2,900 acres of ranchland and feature hundreds of thousands of sun-tracking photovoltaic panels. Primoris Renewable Energy, a subsidiary of Primoris Services Corporation, is serving as the engineering, procurement and construction contractor, with KOMIPO overseeing long-term operations and maintenance.

Power purchase agreements

Power from the project has been secured through long-term virtual power purchase agreements with major corporate offtakers pursuing 100% renewable energy goals. Developers say the additional capacity comes as Texas faces rising electricity demand driven by population growth, electrification, and expanding data center and manufacturing activity.

The project also includes the RAIN-UP program, which allocates a share of revenues to support socially disadvantaged farmers, ranchers and local communities, linking large-scale renewable development with local economic initiatives.

The Lucy Solar Project joins other major utility-scale solar developments underway in West Texas, including the Greyhound A Solar Project, which is also adding significant new renewable capacity to the ERCOT grid. Together, the projects highlight continued large-scale investment in solar infrastructure across the region as developers race to meet rising power demand from population growth, data centers and industrial users.

Lucy Solar Project Factsheet

Overview

Project Name: Lucy Solar Project

Location: Concho County, Texas

Capacity: 350 megawatts (MW)

Project Type: Utility-scale solar farm

Total Investment: $524 million

Project Size: Nearly 2,900 acres

Expected Commercial Operation: Mid-2027

Groundbreaking Ceremony: January 27, 2026 (Dallas)

Energy Output & Impact

Annual Generation: 926 gigawatt-hours (GWh) of clean electricity

Homes Powered: Approximately 65,000 Texas homes

Technology: Hundreds of thousands of photovoltaic panels with sun-tracking systems to maximize energy output

Economic Benefits

Job Creation

Construction Jobs: Approximately 500 positions during construction phase

Tax Revenue

Annual Property Tax: ~$5 million per year to Concho County once operational

Beneficiaries: Local schools, infrastructure, and essential services

Community Investment

Rain-Up Program: Portion of project revenues directed to support socially disadvantaged farmers, ranchers, and local communities

Project Partners

Development Consortium (“Team Korea”)

Korean Partners:

Hyundai Engineering & Construction (Hyundai E&C) – Lead developer

Korea Midland Power (KOMIPO) – Operations & maintenance manager

Korea Overseas Infrastructure & Urban Development Corporation (KIND)

PIS Fund

Topsun

EIP Asset Management – Investment manager

U.S. Partners:

High Road Energy Marketing (Texas-based co-developer)

Construction & Operations

EPC Contractor: Primoris Renewable Energy (division of Primoris Services Corporation)

Long-term O&M: KOMIPO

Strategic Significance

Investment Milestone

One of the largest Korean-led renewable energy investments in the United States

Hyundai E&C’s largest solar project outside Asia

KOMIPO’s third U.S. greenfield renewable development project

Market Context

Texas electricity demand projected to rise 14% by mid-2026

Addresses growing power needs from population growth, electrification, data centers, and manufacturing expansion

Offtake Arrangements

Output pre-sold through long-term Virtual Power Purchase Agreements (VPPAs)

Corporate offtakers committed to 100% renewable energy

Supports RE100 corporate sustainability commitments

Project Timeline

Groundbreaking Ceremony: January 27, 2026

Construction Phase: 2026-2027

Commercial Operation: Mid-2027