CPS Energy and Ashtrom Renewable Energy Break Ground on Solar Farm

Ashtrom Renewable Energy, elected officials and partners celebrate groundbreaking of El Patrimonio

SAN ANTONIO, TX (MAY 12, 2026) - Ashtrom Renewable Energy leaders were joined by members of CPS Energy, SOLV Energy, and elected officials as they broke ground on El Patrimonio, a new solar facility in Bexar County.

Construction of the El Patrimonio Project began in 2025 and is expected to be completed in 2027. Once operational, the project is projected to supply electricity to approximately 37,000 households and reduce carbon emissions by about 193 tons annually.

"This is an exciting day for Ashtrom Renewable Energy and a major milestone in our continued commitment to delivering sustainable, reliable energy solutions," said Yitsik Mermelstein, CEO of Ashtrom Renewable Energy. "We want to thank our partners, including CPS Energy, SOLV Energy, Bexar County, and the City of San Antonio for their collaboration, vision and support bringing this project to life."

"CPS Energy is the number one buyer of solar energy in Texas," said Frank Almaraz, Chief Operating Officer of CPS Energy. "Today's groundbreaking and partnership with Ashtrom helps maintain our leadership position. Renewable energy is also a key part of delivering on our diverse generation plan to meet our growing population's needs."

"Breaking ground on El Patrimonio marks the start of an important partnership between SOLV Energy and Ashtrom Renewable Energy," said George Hershman, CEO of SOLV Energy. "From construction through operations, SOLV is committed to delivering this project safely, efficiently, and with a focus on long term performance - supporting Ashtrom's vision and Texas' growing energy needs."

Under a 20-year Power Purchase Agreement with CPS Energy, the municipally-owned electric and gas utility of San Antonio, CPS Energy will purchase about 70% of the electricity generated by the project, along with renewable energy credits. The remaining electricity will be offered in the Texas open electricity market by Ashtrom.

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About CPS Energy

Established in 1860, CPS Energy is the nation's largest public power, natural gas, and electric company, providing safe, reliable, and competitively-priced service to approximately 970,000 electric and 390,000 natural gas customers in San Antonio and portions of seven adjoining counties. Our customers' combined energy bills rank among the lowest of the nation's 20 largest cities - while generating $10.1 billion in revenue for the City of San Antonio since 1942. As a trusted and strong community partner, we continuously focus on job creation, economic development, and educational investment. We are powered by our skilled workforce, whose commitment to the community is demonstrated through our employees' volunteerism in giving back to our city and programs aimed at bringing value to our customers.

About Ashtrom Renewable Energy

Ashtrom Renewable Energy is delivering clean energy at scale. We build best-in-class renewable energy projects in the United States and around the globe. With a hands-on, risk-informed approach that emphasizes strategic and cost-effective execution, the company is an independent power producer (IPP) led by a team of energy experts with decades of experience in development, construction, financing, and operation of renewable energy projects. Ashtrom Renewable Energy leverages the financial stability and culture of excellence cultivated by Ashtrom Group (TASE: ASHG), a leading infrastructure, construction, and real estate development company with a 60-year legacy of success.