OCI Energy and Arava Power took part in a signing ceremony today to execute a Membership Interest Purchase Agreement (MIPA) for La Salle Solar, a 670 MWdc utility-scale solar project located in La Salle County, Texas.
Under the MIPA transaction, Arava Power will acquire a 50% ownership interest and the parties will jointly finance, construct, own and operate the solar project.
La Salle Solar marks a significant milestone for both companies as their largest single-site solar project to date and further strengthens the long-standing partnership between OCI Energy and Arava Power. The transaction represents the third collaboration between the two, reflecting a shared track record of advancing large-scale renewable energy projects in the Texas market.
OCI PR image
Left to right: Timothy Heinle, EVP, Business Development, OCI Energy; Sabah Bayatli, President, OCI Energy; Ilan Zidkony, CEO, Arava Power; David Rosenblatt, Founder, Co-Chair, Arava Power
At full capacity, La Salle Solar is expected to generate enough clean electricity to power approximately 100,000 homes, contributing meaningful generation to support energy reliability, affordability, and security in one of the nation's fastest-growing power markets.
"La Salle Solar is a milestone not only because of its size, but because it reflects the consistency and expertise of our team," said Sabah Bayatli, President of OCI Energy. "Executing a project of this scale is the result of deep market knowledge, strong partnerships, and a focused approach to development. Texas continues to be the foundation of our portfolio, and La Salle demonstrates our ability to deliver repeatable, high-quality projects that meet the evolving needs of the grid."
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"La Salle Solar is a testament to Arava Power's momentum in the U.S. market," said CEO Ilan Zidkony. "Securing this 670 MWdc project strengthens our platform and underscores the seamless alignment between our team and OCI Energy. We are on track to break ground by year-end, further accelerating our mission to deliver large-scale, sustainable energy solutions."
Project La Salle Solar is expected to begin commercial operations in 2028.
