Big news from San Antonio, Texas. OCI Solar Power and CPS Energy jointly agreed to create and run the single-largest utility solar project in the U.S.
The deal will build five solar plants around the state, creating 805 jobs in San Antonio and producing 400 megawatts in power. It is projected to create an estimated annual economic impact of nearly $700 million.
Under the agreement, Nexolon America LLC will build a $100 million high-tech manufacturing facility to develop necessary solar components.
According to OCI, the project will progress in phases over the course of four years. The first phase is a 50-megawatt solar facility in San Antonio and another 35-megawatt plant elsewhere.
Three more 105-megawatt plants will be built in surrounding areas. Overall, these plants will supply power to 70,000 homes. OCI will also develop facilities in San Antonio that produce general solar components for the entire North American market.
The company has more than 40 projects underway across North America.
“OCI Solar Power is breaking new ground for sustainable energy in the U.S.,” said Tony Dorazio, president of OCI Solar Power. “This project will not only serve as a public-private partnership model for communities around the country but also a blueprint for building a new energy development hub. As part of our commitment to this vision and to the San Antonio community, we will also drive investments in education, research and development and the new innovations necessary to sustainably impact the economy and landscape for years to come.”
OCI Solar has recently emerged as a beacon amidst worrying news of several solar company failures. With operations in the U.S. and Canada, OCI develops utility-scale solar plants in tandem with local communities and organizations. They are a subsidiary of the Korean OCI Company Ltd (KRX: 010060).