US based OCI Energy LLC, Arava Power and ING Capital LLC have closed construction financing for the 347 MWdc Project SunRoper in Wharton County, near Houston. The $394 million project is backed by a 20-year PPA with a Fortune 100 company. ING is serving as sole lead arranger, bookrunner, green loan coordinator and administrative agent, structuring a package that includes a construction-to-term loan, tax equity bridge loan and letters of credit. BHI and Bank of Hapoalim have supported development financing. Foley & Lardner LLP have advised the joint venture, while Skadden Arps Slate Meagher & Flom LLP represented ING. WHC LLC will act as EPC contractor and Black & Veatch as technical advisor. Commercial operations are expected in Q3 2027, supporting power demand growth in Texas.
OCI Energy & Arava secure 347 MW Texas solar funding
Arava Power, OCI Energy and ING Capital have closed $394 million financing for 347 MW (DC) SunRoper in Texas and backed by 20-year PPA support.
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