OCI Solar sells 66-MW solar project in Texas to DE Shaw

Solar farm. Author: Michele Lamberti. License: Creative Commons, Attribution 2.0 Generic.

October 23 (Renewables Now) - Texas-based OCI Solar Power LLC has sold the 66-MW under-construction photovoltaic (PV) project in Texas to DE Shaw Renewable Investments LLC (DESRI).

The sale was announced on Monday by Marathon Capital, which advised OCI Solar on the deal. Terms of the transaction, as well as financial details, remained undisclosed.

Project Ivory, the given capacity of which is in Direct Current (DC), is currently being built in Texas’ Dawson County and is expected to be commissioned next month. It will operate under a power purchase agreement (PPA) with the City of San Antonio, signed by the City Public Service Board (CPS Energy) and OCI Solar.

OCI Solar has financed the construction of the PV park entirely from its balance sheet, according to the statement.

DE Shaw's latest acquisition follows a deal from last week for the purchase of First Solar Inc's (NASDAQ:FSLR) 100-MW Willow Springs solar project in Kern County, California. The plant, also under construction, is expected to be switched on at the end of 2018.

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