Sabanci Renewables has formalised the purchase of the 120 megawatt (MW) Project Pepper solar plant from OCI Energy, marking the first such transaction between the two companies. The agreement provides that Sabanci Renewables will finance, build, operate and own the entire facility, which is scheduled to reach commercial operation in the third quarter of 2027. The project is located in McLennan County, Texas, a region with strong energy demand, notably to supply local power grids.
OCI Energy continues its development strategy
OCI Energy, developer of the project since its inception, has managed site acquisition, pre-construction studies, permitting and grid connection. The company maintains its presence in the US market with over 5 gigawatts (GW) of projects under development, mainly in solar and energy storage. Sabah Bayatli, President of OCI Energy, stated that the transaction “reflects the strength of our development platform and the expertise of our team in the market”.
According to Sabanci Renewables, this acquisition brings its total capacity of solar projects in operation or under construction in the United States to 660 MW, equivalent to 660,000 kilowatts. Tolga Kaan Doğancıoğlu, Chief Executive Officer of Sabanci Climate Technologies, indicated that this operation is part of the group’s growth strategy in the US market, with a target of 3,000 MW of installed renewable assets by the end of the decade.
New momentum for the Texan solar market
The Pepper project, designed to meet the growing energy needs of Texas, fits into a regional dynamic where solar capacity is expanding rapidly. Industry participants see a buoyant market, supported by structural demand and objectives for energy diversification. Legal advisers Sidley Austin LLP and Troutman Pepper Locke LLP assisted OCI Energy and Sabanci Renewables respectively in the transaction.
No information on the exact amount of the transaction was disclosed. The Pepper project adds to a portfolio of solar investments that is attracting increased interest as international groups pursue large-scale development plans across the United States.
