OCI Energy sells 260-MW Texas solar project to Hyundai Engineering
- OCI Energy sells 260-MWp solar project in Texas to Hyundai Engineering, marking their first US solar acquisition and paving the way for future renewable energy collaboration.
OCI Energy, a unit of South Korean company OCI Co Ltd, has sold a 260-MWp solar project in Texas to Hyundai Engineering. The project, located in Hillsboro south of Dallas, is currently in the development phase and will generate electricity in the ERCOT North load zone once operational in the first quarter of 2027. The value of the transaction was not disclosed.
This deal marks Hyundai Engineering's first solar project acquisition in the US and signifies a Memorandum of Understanding between OCI Energy and Hyundai Engineering for future collaboration in renewable energy. OCI Energy's president, Sabah Bayatli, expressed excitement for working together on projects that support the US electrical grid and contribute to a sustainable energy future.
What is the significance of Hyundai Engineering's first US solar project acquisition?
- Hyundai Engineering's acquisition of the 260-MWp solar project in Texas marks their first entry into the US solar market, showcasing their commitment to expanding their renewable energy portfolio globally.
- The project, once operational in the first quarter of 2027, will generate electricity in the ERCOT North load zone, contributing to the region's renewable energy capacity and helping to meet clean energy goals.
- The undisclosed value of the transaction highlights the growing interest and investment in the US solar market, as more companies seek to capitalize on the country's abundant solar resources and supportive regulatory environment.
- The Memorandum of Understanding between OCI Energy and Hyundai Engineering sets the stage for future collaboration in renewable energy projects, indicating a long-term commitment to working together on sustainable energy initiatives.
- OCI Energy's president, Sabah Bayatli, expressed enthusiasm for the partnership and the opportunity to support the US electrical grid with clean energy solutions, emphasizing the importance of collaboration in achieving a more sustainable energy future.