Buckeye buys 270-MW solar project in Texas

US petroleum distributor Buckeye Partners LP has acquired a 270-MW solar project in Texas from OCI Solar Power LLC, the companies said today.

The shovel-ready project, called Project Parker, is located on two adjacent sites in Falls County.

Buckeye intends to start project design and construction later in 2021, with completion targetted for the first quarter of 2023. The liquid petroleum products pipeline operator in July bought a 180-MW solar project in Texas from developer Belltown Power Texas LLC.
“As we continue to evolve into a more diversified energy company, acquisitions like Project Parker represent an opportunity to invest in growth that aligns with our business and ESG [environmental, social and governance] priorities, and leverages our existing expertise and capabilities,” the company’s president and chief executive Clark Smith said in today’s statement.

The seller is a San Antonio, Texas-based subsidiary of South Korea’s OCI Co Ltd (KRX:010060). Financial details of the acquisition were not provided.

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