OCI Solar Power Enters Negotiations to Develop 400 MW Solar Plant in TX
OCI Solar Power announced today a partnership with CPS Energy in San Antonio, Texas to enter into negotiations to produce 400 megawatts of power, making it one of the largest solar power development projects in the country. The solar development project is unique in its size as well as scope, and includes working with the community to not only secure a renewable, cost effective solar power source but also to drive long-term economic development with investments of more than $100 million in capital projects and the creation of more than 800 area jobs.
The project will include the development of several solar plants, constructed with proven, leading-edge solar technologies. The additional sustainable resource added to the power grid in south central Texas will drive renewable energy costs and increase efficiencies for the area. The 400 megawatts of energy generated will power the equivalent of 90,000 homes during daylight hours.
“OCI Solar Power is proud to enter negotiations with CPS Energy to potentially partner on its goal of creating a solar energy manufacturing and development hub in San Antonio,” said Kirk Milling, Chairman of the Board of OCI Solar Power. “The project will also create a new standard and model for communities working to build their sustainable energy resources. Combining this effort with capital investment and economic development creates a winning combination for both the city and region.”
In addition, the project will drive significant investment in research & development and job creation for San Antonio. With this news, OCI Solar Power will relocate its headquarters to San Antonio, along with its Engineering and Operations Center.
Construction on the first solar facility will begin in 2013 with additional facilities built through 2016, subject to Power Purchase Agreement negotiations.