SAN
ANTONIO, July 31, 2024 /PRNewswire/ -- OCI Energy
is pleased to announce the successful sale of a 260 MWdc solar
project to Hyundai Engineering Co., Ltd. This milestone marks
the first transaction of its kind between the two companies, and it
sets the stage for both companies to enter into a Memorandum of
Understanding for future collaboration on renewable energy
development.
An official transaction closing and MOU ceremony was held today
at OCI Energy's headquarters in San
Antonio. Team members from Hyundai's Houston office as well as representatives from
its parent company in Seoul, South
Korea were in attendance.
Project Hillsboro is currently
under development in Hill County,
in the ERCOT North load zone. Hyundai Engineering will undertake
construction of the project and expects it to begin operating in
the first quarter of 2027.
Sabah Bayatli, President of OCI Energy, expressed excitement
about the partnership, stating, "We are thrilled to complete the
sale of Project Hillsboro to Hyundai Engineering Co., Ltd.
This transaction not only signifies an important step in our
ongoing commitment to advancing renewable energy in the U.S., it
also serves as a platform for future collaboration between our
respective companies. We look forward to working together on
additional projects that support the electrical grid in the U.S.
and contribute to a sustainable energy future."
"We are very pleased that we have successfully acquired our
first solar project in the United
States. This marks a significant milestone for our company
as we venture into the renewable energy sector. We would like to
extend our heartfelt appreciation to OCI Energy for their
exceptional work in developing this remarkable solar project. With
this project, we look forward to continuing to cooperate and build
a strategic partnership with the OCI team for upcoming projects"
said Dongjoon Kim, Vice President of
Hyundai Engineering Co., Ltd.
This sale comes on the heels of OCI Energy's recent rebranding
from OCI Solar Power. The new name reflects the company's broader
business focus, which now includes utility-scale solar projects and
battery energy storage systems, positioning OCI Energy as a
versatile leader in the renewable energy sector.
For more information, please contact:
Leslie Garza-Wright
Sr. Manager, Marketing & Communications
210-612-4978
lgwright@ocienterprises.com
About OCI Energy LLC
OCI Energy, formerly OCI Solar
Power, is a leading developer of utility-scale solar and battery
energy storage projects. Since its establishment in 2012, OCI
Energy has been committed to accelerating the clean energy
transition through innovation and excellence. With a diverse
portfolio of projects and a nationwide presence, OCI Energy
continues to lead the way in providing sustainable energy solutions
that meet the growing demand for clean power. For more information,
visit www.ocienergy.com.
About Hyundai Engineering Co.,
Ltd.
Hyundai Engineering was established in
1974 as Hyundai Technology Development Co., Ltd., and has grown
into a global engineering company that can represent Korea on the
world stage. As a global engineering firm that plays a leading role
in the fields of process plants, power & energy plants,
Building & Housing Works, infrastructure industry &
development and asset management, Hyundai Engineering is expanding
into eco-friendly energy to build a sustainable future. For more
information, visit https://www.hec.co.kr/en.
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SOURCE OCI Energy