OCI to sell Alamo 6 solar project for $385 million

If there was one deal that jump-started large-scale solar in Texas, it was the 2012 deal between San Antonio municipal utility CPS Energy and South Korea’s OCI, which would bring PV cell and module maker Mission Solar Energy, tracker company Sun Action Trackers and developer OCI Solar Power to San Antonio.

What CPS offered in exchange was power contracts for 400 MW (later extended to 450 MW) of solar PV projects, which OCI was to build over the next four years using components from the new factories. However several components of this deal have changed, and now the final plant of seven to be constructed is changing hands.

According to reports in local press, OCI Solar Power now plans to sell the 110 MW-AC Alamo 6 solar project to an un-named buyer for $385 million (Editor’s note: the Alamo 7 was completed before the Alamo 6). The plant was under construction in West Texas’ Pecos County when pv magazine spoke to OCI in October, however OCI had not yet responded to our requests for information about the project or its sale by press time.

OCI has completed the other six projects, however Alamo 3,4,5 and 7 (now Texas Solar 3,4,5 and 7) are now owned by ConEdison Development, a subsidiary of power company Consolidated Edison.