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OCI Holdings' US subsidiary OCI Energy broke ground Sept. 1 on the 260-megawatt SunRoper solar project in Wharton County, Texas, a joint venture with Israeli developer Arava Power, the South Korean company said Sept. 3.

The project, spread across 1,714 acres, is scheduled to begin commercial operations in 2027. Once online, it will generate enough electricity to power roughly 60,000 households.

OCI Energy and Arava Power each hold a 50% stake in the development. The companies secured project financing on the back of a long-term power purchase agreement signed in February with a top-tier Fortune 100 company. Neither party disclosed the buyer's name. 

OCI Holdings Chairman Woohyun Lee attended the groundbreaking ceremony alongside OCI Energy President Sabah Bayatli and Arava Power CEO Ilan Zidkony.

A Track Record Built Over More Than a Decade

OCI Energy has developed utility-scale solar projects in Texas since 2012, building and selling roughly 2 gigawatts of capacity over more than 15 years in the market. That pace has quickened in the past two years as data center construction tied to artificial intelligence has driven up demand for renewable power in the state.

Last year alone, the company completed development of 480 megawatts across three major solar projects: SunRoper (260MW), Pepper (120MW) and Lucky 7 (100MW). The latter two were sold to Turkish energy developer Sabanci Renewables.

This year, OCI Energy also sold a 50% stake in the 500-megawatt La Salle project, also developed with Arava Power. That project is expected to break ground later this year, targeting commercial operations in 2028.

Project La Salle is in talks to sign a power purchase agreement with one of the so-called Magnificent Seven (M7) US tech giants, according to people familiar with the matter.

OCI Energy's business model is also evolving in energy storage. The company is building the 120MW/480MWh Alamo City energy storage project with CPS Energy and LG Energy Solution Vertech, one it plans to operate directly rather than sell — part of a broader shift in strategy. That project also targets a 2027 commercial launch.

From Developer to Owner-Operator

OCI Energy currently holds a development pipeline of 6.3 gigawatts across Texas and other regions in the U.S. — 3.1 gigawatts of solar and 3.2 gigawatts of ESS, spanning 30 projects. Earlier this year, the company outlined a target of 15 gigawatts in development assets and more than 2 gigawatts in operating assets by 2030, as part of a broader push to become a major US energy player through project development, power supply and infrastructure services. 

"Solar demand in the US is accelerating as AI data centers drive up power consumption," OCI Holdings Chairman Lee said. "Project SunRoper reflects our shift from a develop-and-sell model toward direct operation, which opens up new, recurring revenue streams."

As OCI Energy expands its portfolio of PPA-backed operating assets, the company expects the shift to generate more stable, contract-based cash flow and improve profitability — a move it says will also support long-term value creation at OCI Energy.