Representatives from OCI Holdings and Arava Power take part in a groundbreaking ceremony for the SunRoper solar project in Wharton County, Texas, on Wednesday. Photo by OCI Holdings
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SEOUL, Sept. 3 (UPI) — South Korea’s OCI Holdings said Thursday that its U.S. subsidiary, OCI Energy, has teamed up with Israeli renewable energy developer Arava Power to build a 260-megawatt solar power project in Texas.<\/p>\n
OCI Energy began construction Wednesday on the SunRoper solar project in Wharton County, Texas, amid growing demand for electricity from artificial intelligence data centers.\n<\/p>\n
Spanning roughly 1,714 acres, the project is expected to begin commercial operations in 2027 and generate enough electricity to power 60,000 households. OCI Energy and Arava Power each own a 50% interest in the project, according to OCI.<\/p>\n
The two companies secured financing for the project after signing a long-term power purchase agreement with a Fortune 100 company in February. The identity of the power purchaser has not been disclosed.<\/p>\n
OCI Holdings Chairman Lee Woo-hyun joined OCI Energy President Sabah Bayatli and Arava Power CEO Ilan Zidkony at the groundbreaking ceremony.<\/p>\n
“Solar demand in the United States is accelerating as AI data centers drive up power consumption,” Chairman Lee said in a statement. “Project SunRoper reflects our shift from a develop-and-sell model toward direct operation, which opens up new, recurring revenue streams.”\n<\/p>\n
OCI Energy has been active in Texas’ utility-scale solar market since 2012, developing and selling projects with a combined capacity of around 2 gigawatts. In particular, it has increased investments over the past two years in line with mounting power demand from AI data centers.<\/p>\n
The share price of OCI Holdings declined 5.6% on the Seoul bourse on Thursday, while the benchmark KOSPI edged up 0.26%.<\/p>\n","protected":false},"excerpt":{"rendered":"Representatives from OCI Holdings and Arava Power take part in a groundbreaking ceremony for the SunRoper solar project…\n","protected":false},"author":2,"featured_media":424984,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[910,27,29,28,26043,3703],"class_list":["post-424983","post","type-post","status-publish","format-standard","has-post-thumbnail","category-texas","tag-business","tag-texas","tag-texas-headlines","tag-texas-news","tag-top-news","tag-world"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/424983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=424983"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/424983\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/424984"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=424983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=424983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=424983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}