OCI Solar Power
Sale of 66 MWDC In-Construction Solar Photovoltaic Project to:
D. E. Shaw Renewable Investments
OCI Solar Power LLC’s (“OCI Solar Power”) sold its 66 MWDC in-construction solar photovoltaic project (“Project Ivory”) to D. E. Shaw Renewable Investments (“DESRI”). OCI Solar Power funded the project’s construction entirely on its balance sheet prior to the sale to DESRI. The project reached commercial operation in November 2018. Project Ivory is located in Dawson County, Texas and was constructed in connection with a facility power purchase agreement between the City of San Antonio acting through its City Public Service Board (“CPS Energy”) and OCI Solar Power. OCI Solar Power has developed more than 500 MWAC of solar projects with CPS Energy.
Marathon Capital acted as an exclusive financial advisor to OCI Solar Power on the transaction.