OCI Energy and Arava Power have closed construction financing with ING Capital to support a 347 MWdc solar energy project near Houston

Core Insights - OCI Energy, Arava Power, and ING Capital have successfully closed construction financing for Project SunRoper, a 347 MWdc solar project in Wharton County, Texas [1][2] - The total investment for Project SunRoper is approximately $394 million, supported by a 20-year power purchase agreement (PPA) with a Fortune 100 company [3] Company Overview - OCI Energy is a leading developer, owner, and operator of utility-scale solar and battery energy storage projects, targeting up to 10 GW by 2028 [4] - Arava Power is an Israeli renewables developer that has pioneered the utility-scale photovoltaic market in Israel and is committed to delivering clean energy solutions [6] - ING Capital LLC provides a full array of financial lending products and advisory services, focusing on empowering clients in business [7] Project Details - Project SunRoper is developed through a joint venture between OCI Energy and Arava Power, with ING Capital acting as the sole coordinating lead arranger and bookrunner [2] - The project is expected to begin commercial operation in Q3 2027 and aims to enhance grid reliability and affordability while reducing emissions [3]