OCI Holdings announced on the twenty fourth that US subsidiary OCI Anna has signed an agreement with Araba Power, an Israeli solar company, on the establishment of a 260 -megawatt (MW) tracker project three way partnership.
The Warrior County, southwest of Houston, is a utility -class solar energy plant developed 260MW on the 1714 acre. It is a size that may produce the quantity of electricity that about 60,000 households might be used for a day.
Araba Power has developed and operated numerous solar and ESS projects in Israel and the US, and has been friendly with OCI Energy, starting with the 200MW Sunray project, which was sold to Araba Power and Israeli energy company PAZ OIL in 2021.
The three way partnership will hold 50%of OCI Energy and 50%of Araba Power, respectively, and can accomplished the project development by the tip of 2026 and share profits from future sales by the tip of 2026.
Particularly, OCI Energy plans to offer know -how resembling license, financial procurement, power plant construction, management and operation to maximise the profits of this project.
Lee Woo -hyun, chairman of OCI Holdings, said, “OCI Energy has grown into the No. 1 company with a 15%share within the solar energy generation and development market in Texas.
The project is claimed to have a high profitability since the US supports 30%of investment tax deductions (ITCs) through the inflation reduction method (IRA) and adds 10%of energy community bonuses to refund as much as 40%of investment costs.
By Lee Jae -seung, reporter Energy@aitimes.com
