Texas Plans 500MW Floating Solar Projects with $700M Investment

Solar energy continues to dominate new electric generation capacity additions in the U.S., with 9.5 GW of solar added out of 12.2 GW total capacity in 2025, supported by significant project developments and financing, such as Sabanci Renewables' acquisition of the Lucky 7 Solar project in Texas and the Shallow Basket Energy project in New Mexico which combines solar with advanced battery storage. Meanwhile, Third Pillar Solar and Diamond Infrastructure Solutions are pioneering a large-scale floating solar photovoltaic (FPV) project in Texas, aiming for 500 MW capacity by 2030, backed by a $700 million investment that could become the largest floating solar project in the Americas. This floating solar initiative leverages existing reservoirs, conserving about 15% of water typically lost to evaporation, while also preserving land and enhancing solar panel efficiency due to cooler water temperatures. The project is expected to boost local economies through job creation and potential local supply chain development, setting a precedent for utility-scale FPV projects across the U.S. and Americas. Floating solar's potential is massive, with U.S. reservoirs alone offering up to 1,042 GW of floating solar capacity, sufficient to significantly aid in decarbonizing the grid by 2050. Together, these developments highlight the growing importance of innovative solar solutions, including land-saving floating solar technologies, in expanding renewable energy infrastructure and environmental sustainability.