OCI Solar Power to develop 400 MW solar power plant in Texas

Atlanta, January 11, 2012 — OCI Solar Power announced today a partnership with CPS Energy in San Antonio, Texas to enter into negotiations to produce 400 MW of power.

The solar development project includes working with the community to not only secure a renewable, cost effective solar power source but also to drive long-term economic development with investments of more than $100 million in capital projects and the creation of more than 800 area jobs.

The project will include the development of several solar plants. The additional sustainable resource added to the power grid in south central Texas will drive renewable energy costs and increase efficiencies for the area. The 400 MW of energy generated will power the equivalent of 90,000 homes during daylight hours. 

In addition, the project will drive investment in research and development and job creation for San Antonio. With this news, OCI Solar Power will relocate its headquarters to San Antonio, along with its Engineering and Operations Center.

Construction on the first solar facility will begin in 2013 with additional facilities built through 2016, subject to power purchase agreement negotiations.

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