Arava Power Acquires 50% Stake in 670 MWdc La Salle Solar Project in La Salle County, Texas
OCI Energy and Arava Power have signed a Membership Interest Purchase Agreement (MIPA) for La Salle Solar, a 670 MWdc utility-scale solar project in La Salle County, Texas. Arava Power acquires a 50% stake, with both parties jointly financing, constructing and operating the project. Commercial operations are expected in 2028, with groundbreaking targeted before end of 2026.
Transaction date: · Source: prnewswire.com
Key facts
- Transaction date
- Technology
- Solar PV
- Capacity
- 335 MW
- Transaction price
- Not disclosed
- Buyer
- Arava Power
- Seller
- OCI Energy
- Country
- United States
- Region
- Texas
- Location
- La Salle County, Texas, USA
- Continent
- North America
- Development status
- Under Development
- PPA
- n.a.
Technology details
670 MWdc utility-scale solar project. Largest single-site solar project for both OCI Energy and Arava Power. Expected to generate enough clean electricity to power approximately 100,000 homes. Commercial operations expected in 2028. Construction groundbreaking targeted before end of 2026.
Additional information
Transaction structured as a Membership Interest Purchase Agreement (MIPA). Arava Power acquires a 50% ownership interest; OCI Energy retains the remaining 50%. Both parties will jointly finance, construct, own and operate the project. This is the third collaboration between OCI Energy and Arava Power in Texas. OCI Energy is targeting up to 10 GW of utility-scale solar and BESS by 2028. Arava Power is an Israeli IPP active in Israel and the USA.
Source
Original announcement: https://www.prnewswire.com/news-releases/oci-energy-and-arava-power-execute-mipa-for-670-mwdc-la-salle-solar-in-texas-302771462.html