OCI Solar Power sells 875-acre, 110 MW solar project to Japan-based investment company

The developer is teaming up with the investment company to build renewable energy infrastructure in Texas.

OCI Solar Power sells 875-acre, 110 MW solar project to Japan-based investment company

The Lone Star State is getting a renewable energy infrastructure built by a local utility-scale developer who has partnered with one of the largest trading and investing companies in the world.

San Antonio's OCI Solar Power LLC, parent company to Mitsui USA, announced Monday that it had sold Three W Solar, a 110 MW solar photovoltaic plant in Hill County.

Charles Kim, President and CEO of OCI Solar Power said in a statement on Monday that they spent two years developing Three W Solar. They worked with landowners, the school district and completed all environmental studies. Mitsui will complete the project. "Now, we are excited to announce Mitsui purchased the project.

Three W Solar is located on 875 acres south of Dallas near Hillsboro. It has a capacity factor of 28% and will be interconnected to Oncor's high-voltage transmission grid.

Construction is scheduled to begin in 2024 and operations will start in 2025.

Heinle stated that OCI Solar Power was responsible for the development of the project "all the way through the concept, the early site selection... and until we sold it to Mitsui."

Heinle stated that the facility would be operated and constructed by the new company.

The sale was part of a contract OCI Solar Power and Mitsui USA signed in February to work together on utility-scale projects for solar energy in Texas. OCI Solar Power is responsible for developing the projects, and offering them to Mitsui & Co. Ltd. as investment.

Heinle stated that "this is the first project we hope to develop in collaboration Mitsui."

According to its website, OCI Solar Power has seven projects in development, including a 100 MW project in Bexar county.

Since its founding in 2011, OCI Solar Power is a wholly owned subsidiary of OCI Company Ltd. and has developed more than 3 GW in solar and energy storage project in operation, construction, and development throughout the U.S.