OCI Energy and Areva break ground on 347MW Texas solar

Independent power producers OCI Energy and Areva Power have broken ground on the 347-megawatt SunRoper solar PV project in Wharton County, Texas. The project is scheduled to begin operations in December 2027 and is backed by a long-term power purchase agreement with an unnamed Fortune 100 company.

According to the companies, SunRoper will add significant new generating capacity to the Houston metropolitan area. Construction firm WHC is building the project, which is being financed by ING. OCI Energy president Sabah Bayatli stated the project demonstrates how strategic partnerships can meet Texas's growing electricity demand through investments in critical energy infrastructure.

Project Financing and Partnership History

OCI, Areva, and ING closed construction financing for the SunRoper project in February 2026. The financing included funds from US bank BHI and the Israeli Bank of Hapoalim. The two power producers have a history of collaboration in the Texas solar market dating back to 2021, when Areva acquired the 270MW SUNRAY project in Uvalde County from OCI Energy.

In May of this year, Areva acquired a 50% stake in OCI Energy's La Salle solar project in Texas. That 670MW project is expected to start commercial operations in 2028 and will become the largest single-site solar project in OCI's portfolio.

Sunraycer Closes Financing for Storage Portfolio

In a separate development, Maryland-based independent power producer Sunraycer has closed tax equity financing for two solar-plus-storage projects in Texas. The combined capacity of the portfolio is 310 megawatts of solar PV and 250 megawatt-hours of energy storage.

The financing was provided by investment firm Monarch Private Capital, which specializes in projects tied to federal tax credits. Monarch provided tax equity financing for both projects, though the specific values were not disclosed. Bryan Didier, a partner and managing director of energy at Monarch, said the completion of the projects represents an important milestone in financing energy infrastructure that delivers investor returns and long-term impact.

Operational Projects and Offtakers

The two Sunraycer projects are now fully operational. They began full-scale operations in the first half of this year and are partially backed by Environmental Attribute Purchase Agreements with technology company Meta, signed in May 2025.

Sunraycer CEO David Lillefloren credited Monarch's tax equity expertise with being instrumental in bringing the projects online. In April 2025, the company secured $475 million in project financing specifically for the Gaia and Midpoint developments. Sunraycer is also developing the 400MW Lupinus project in Texas, which is supported by a power purchase agreement with Google.