OCI Holdings Co. secured a 20-year agreement with Texas power supplier CPS Energy to build and operate a battery storage system in San Antonio, expanding its foothold in the US renewable energy market.
The South Korean solar cell maker will develop a 120-megawatt solar plant coupled with a 480-megawatt-hour battery system in Bexar County through its US unit OCI Energy. The facility, scheduled to start operations in late 2026, will provide enough storage capacity to power more than 104,000 homes in the region.
The project, named Alamo City ESS LLC, qualifies for more than 40% in US investment tax credits, according to company officials. While OCI will handle development and financing, CPS Energy will maintain operational control to manage electrical demand in San Antonio.
This latest deal builds on OCI’s existing partnership with CPS Energy, which includes a solar farm near Texas’ Loop 1604. The Korean company has invested in 5.2 gigawatts of solar and energy storage projects across the US since 2011.
As part of the agreement, OCI pledged a $250,000 donation to the University of Texas at San Antonio.
