Carey International Group, a diversified holding company based in the United States, announced a financial commitment of $870 million for the development of utility-scale solar energy projects in the country. The initiative is managed through its internal energy platform and assigned to SYMX Energy Corp., a wholly owned subsidiary of…
Carey International Group, a diversified holding company based in the United States, announced a financial commitment of $870 million for the development of utility-scale solar energy projects in the country. The initiative is managed through its internal energy platform and assigned to SYMX Energy Corp., a wholly owned subsidiary of SYMX Holdings Corporation. Construction has officially commenced, with the first installations expected to be delivered starting in the summer of 2026.
A portfolio geared toward the ERCOT market
The solar assets will be connected to the Electric Reliability Council of Texas (ERCOT) grid, the main electricity network operator in Texas. According to Christopher Kane, Chief Investment Officer at Carey International Group, utility-scale solar remains the lowest levelized cost of production compared to other generation methods. He noted that these projects aim to support the expansion of data centres, artificial intelligence and industrial reshoring in the United States.
The construction work has been entrusted to SYMX Energy, a firm specialised in engineering, procurement and construction (EPC). The company is overseeing the operational deployment of the portfolio, which aims to deliver affordable electricity to North American consumers by 2026.
Scaling strategy across the U.S. market
Andrew Ramos, President and Chief Executive Officer of SYMX Holdings Corporation, stated that the partnership with Carey International Group reflects a strategic intent to reinforce their renewable energy platform in the United States. He emphasised that the progress of the solar portfolio represents a significant step in the company’s national expansion.
Carey International Group also develops assets in commercial real estate and financial services, but the allocation of this funding confirms a strategic shift toward the energy sector. The ongoing projects are designed to meet growing structural demand, driven by evolving industrial and technological needs within the U.S. territory.
