Diamond Infrastructure Solutions has signed an agreement with Houston-based Third Pillar Solar, granting the latter exclusive access to Diamond’s reservoirs in Texas. The objective is to assess the feasibility of designing, developing, and deploying utility-scale floating solar projects. This partnership marks a first in North America, both in terms of the scale — up to 500 megawatts (MW) — and the approach of utilizing unused water surfaces.
In addition to power generation, the proposed technology would reduce freshwater evaporation by up to 15%, a significant advantage in regions facing growing water stress. The project aims to utilize existing artificial water bodies, avoiding the use of agricultural or developable land, and aligning with land-use optimization and cost containment strategies.
A Structuring Investment in a Growing Market
According to the information provided, the total investment could reach $700 million. This amount covers feasibility studies, design and construction phases, as well as the operation of the infrastructure by the end of the decade. The full deployment of the floating photovoltaic systems would represent one of the largest initiatives of its kind on the American continent.
Both companies stated that the construction and maintenance of the installations could generate several hundred local jobs. In parallel, Diamond Infrastructure Solutions and Third Pillar Solar plan to rely on regional suppliers to maximize economic impact in the areas affected by the project.
Strategic Emergence Within the Renewable Energy Sector
The initiative highlights the rise of floating solar projects in the North American energy mix, driven by saturation of usable land and potential gains in water efficiency. By positioning themselves in this niche, the two companies aim to capitalize on underutilized surfaces while enhancing regional energy independence.
This model also enables better visual integration by being located on water surfaces out of public view, thus reducing regulatory constraints and local opposition. Additionally, energy yields may be optimized by the natural cooling effect on the floating modules — an attractive factor for large-scale operators.
Outlook and Structure of the Partnership
Diamond Infrastructure Solutions will provide access to its sites and oversee logistics, while Third Pillar Solar will lead the technical studies and operational deployment. The project is based on close cooperation between the two entities, with the goal of bringing the first units online by 2030.
The exclusive partnership could set a strategic precedent for other hydraulic infrastructure owners seeking to diversify the use of their assets. Through this operation, floating solar confirms its growing relevance as an energy integration solution in constrained or pre-developed environments.
