OCI Energy and Arava Power have executed a membership interest purchase agreement (MIPA) involving the La Salle Solar project, a 670MW-direct current (MWdc) utility-scale development in Texas, US.
Through this transaction, Arava Power will obtain half of the ownership interest in the project.
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Both companies will jointly provide financing, handle construction and manage operations for the solar facility.
They have worked together on previous large-scale renewable energy projects in Texas and this deal continues their cooperation within the state’s growing electricity market.
The La Salle Solar facility will have the capacity to produce electricity for an estimated 100,000 households once operational.
OCI Energy president Sabah Bayatli said: “La Salle Solar is a milestone not only because of its size, but because it reflects the consistency and expertise of our team. Executing a project of this scale is the result of deep market knowledge, strong partnerships and a focused approach to development.
“Texas continues to be the foundation of our portfolio, and La Salle demonstrates our ability to deliver repeatable, high-quality projects that meet the evolving needs of the grid.”
The project is scheduled to start commercial operations in 2028.
Arava Power CEO Ilan Zidkony said: “La Salle Solar is a testament to Arava Power’s momentum in the US market. Securing this 670MWdc project strengthens our platform and underscores the seamless alignment between our team and OCI Energy.
“We are on track to break ground by year-end, further accelerating our mission to deliver large-scale, sustainable energy solutions.”
In August 2025, OCI Energy sold a 100MW-alternating current/130MWdc solar project in Hopkins County, Texas, to Sabanci Renewables, the US green energy arm of Sabanci Holding.
