(OCI Holdings)
(OCI Holdings)

OCI Holdings said Thursday it has completed project financing for a 260-megawatt solar power plant in Texas, accelerating its push into long-term renewable energy infrastructure investment in the United States.

Its US subsidiary, OCI Energy, secured a $394 million financing package Monday for the Sun Roper project, a 50:50 joint venture with Israel-based Arava Power established in February 2025. ING Capital acted as the sole lead arranger.

Located in Wharton County, the utility-scale solar facility will span about 6.93 million square meters and is scheduled to begin commercial operations in the third quarter of 2027. Its daily electricity output is expected to be enough to power roughly 60,000 four-person households.

The partners have signed a 20-year power purchase agreement with major power users in Texas, securing stable long-term revenue. The project is expected to help meet rising electricity demand in the region, including growth driven by digital infrastructure and AI-related facilities.

Sun Roper also qualifies for US clean energy incentives, including a 30 percent investment tax credit and a 10 percent energy community bonus, allowing the developers to recover up to 40 percent of total investment costs.

Chairman Lee Woo-hyun said the project underscores OCI’s strategic shift from early-stage asset sales to direct ownership and operation as it builds a broader renewable energy pipeline across Texas and the US.


jwjeon7625@heraldcorp.com