From: Mercom India
OCI Energy, a utility-scale solar and battery storage project developer, and Arava Power, an Israeli utility-scale renewable energy company, have signed a Membership Interest Purchase Agreement (MIPA) for La Salle Solar, a 670 MW solar project in La Salle County, Texas.
Under the MIPA agreement, Arava Power will acquire a 50% ownership interest in the project. OCI Energy and Arava Power will jointly finance, construct, own, and operate La Salle Solar.
The project is expected to begin commercial operations in 2028. At full capacity, the project is expected to generate enough clean electricity to power approximately 100,000 households.
“La Salle Solar is a milestone not only because of its size, but because it reflects the consistency and expertise of our team,” said Sabah Bayatli, President of OCI Energy. “Executing a project of this scale is the result of deep market knowledge, strong partnerships, and a focused approach to development. Texas continues to be the foundation of our portfolio, and La Salle demonstrates our ability to deliver repeatable, high-quality projects that meet the evolving needs of the grid.”
La Salle Solar is the largest single-site solar project announced by the two companies to date, according to the announcement. It is also their third collaboration in the Texas renewable energy market. The companies did not disclose the financial terms of the transaction.
In March 2026, OCI Energy, Arava Power, and ING Capital jointly announced the successful closure of construction financing for the SunRoper Solar project, a 347 MWdc solar project in Wharton County, Texas, being developed through a joint venture between OCI Energy and Arava Power.
Previously, in 2025, OCI Energy also announced the sale of the 120 MWac Pepper solar project to Sabanci Renewables, a North American subsidiary of Turkish conglomerate Sabanci Holdings. The project is located in McLennan County, Texas.
According to Mercom’s Q1 2026 Solar Funding and M&A report, approximately 18.4 GW of solar projects were acquired in the first quarter of 2026, compared to 13.6 GW in Q1 2025.
