OCI Energy, a solar and energy storage developer and a unit of South Korea's OCI Co Ltd, has announced the sale of its 260-MWp photovoltaic (PV) project in Texas to Hyundai Engineering Co Ltd. The transaction pertains to the Hillsboro project, located south of Dallas, which is currently in its development phase.

While the financial details of the transaction were not disclosed, the deal marks Hyundai Engineering's first solar project acquisition in the United States. The Hillsboro PV plant, once operational, will generate electricity for the ERCOT North load zone. Hyundai Engineering is set to oversee the construction and expects to have the project fully commissioned by the first quarter of 2027.

Additionally, OCI Energy and Hyundai Engineering have signed a Memorandum of Understanding (MoU) to explore future collaborations in the renewable energy sector. Sabah Bayatli, president of OCI Energy, expressed enthusiasm for the partnership: "We look forward to working together on additional projects that support the electrical grid in the US and contribute to a sustainable energy future."

The deal underscores a significant milestone for Hyundai Engineering as it expands its footprint in the U.S. renewable energy market and builds on its commitment to global sustainability goals.

Source: renewablesnow.com