OCI Energy and Arava Power have signed a membership interest purchase agreement covering the La Salle Solar project, a 670-megawatt direct current utility-scale solar facility planned for Texas, with commercial operations targeted for 2028.

Deal Structure and Ownership

The agreement, known as a membership interest purchase agreement or MIPA, will see Arava Power acquire a 50 percent ownership stake in the La Salle Solar project.

Under the terms of the arrangement, both companies will jointly provide financing, oversee construction, and manage operations for the facility once it is built. The transaction builds on an existing working relationship between the two companies, which have previously collaborated on large-scale renewable energy projects in Texas.

OCI Energy president Sabah Bayatli described the project as a milestone for the company, citing both its scale and what he called the consistency of his team's execution capabilities.

"La Salle Solar is a milestone not only because of its size, but because it reflects the consistency and expertise of our team," Bayatli said. "Executing a project of this scale is the result of deep market knowledge, strong partnerships, and a focused approach to development."

Bayatli added that Texas remains central to OCI Energy's portfolio. "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," he said.

Project Scale and Timeline

At 670 megawatts direct current, La Salle Solar is a utility-scale development that, once operational, is projected to generate enough electricity to serve an estimated 100,000 households. The project is scheduled to begin commercial operations in 2028.

Construction is expected to begin before the end of the current calendar year. Arava Power CEO Ilan Zidkony confirmed that groundbreaking is on track for before year-end, framing the milestone as part of a broader acceleration of the company's activity in the United States market.

"La Salle Solar is a testament to Arava Power's momentum in the US market," Zidkony said. "Securing this 670MWdc 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."

Texas Market Context

The La Salle Solar project is the latest in a series of solar developments that OCI Energy has pursued within Texas, reflecting the state's position as a significant and growing market for electricity generation.

Both OCI Energy and Arava Power have previously worked together on large-scale renewable projects within the state, and the La Salle agreement continues that pattern of cooperation.

In August 2025, OCI Energy completed a separate transaction in Texas when it sold a 100-megawatt alternating current, 130-megawatt direct current solar project located in Hopkins County to Sabanci Renewables, the United States green energy subsidiary of Turkish conglomerate Sabanci Holding.

That transaction represented a different commercial approach from the La Salle deal, in which OCI Energy is retaining a co-ownership position rather than divesting its interest.

Company Positions

OCI Energy's involvement in the La Salle project is consistent with the company's stated focus on developing utility-scale solar assets within Texas. Bayatli's comments at the time of the announcement emphasized the company's intention to continue delivering projects at a significant scale within the state's electricity market.

For Arava Power, the La Salle agreement represents a major addition to its United States portfolio. Zidkony's remarks indicate that the company views the deal as evidence of growing momentum in the American market and of the operational alignment between Arava Power and OCI Energy as development partners.

The two companies' prior collaboration in Texas appears to have provided the foundation for structuring a 50-50 co-ownership arrangement on a project of this size.

The project will be located in Texas, though the source material does not specify the precise county or subregion within the state where the La Salle Solar facility will be sited.

Both companies have indicated that joint development, financing, and operational responsibilities will be shared equally between them through to and beyond the project's expected 2028 commercial operations date.

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