OCI Energy Co., the U.S. subsidiary of South Korea’s OCI Co., announced on Monday that it has signed an agreement with Israel’s Arava Power Co. (APC) to establish a joint venture for a project that involves building a solar photovoltaic farm in Wharton County, Texas, United States. The Sun Roper project involves the construction of a 260-megawatt utility-scale solar power plant on a 693-square-meter site in Wharton County. The plant is capable of generating enough electricity to power approximately 60,000 households in case of Korea for a day. OCI Energy and APC holds an equal stake in the joint venture. The project is expected to be highly profitable, as it is eligible for 30 percent investment tax credits under the U.S. Inflation Reduction Act (IRA) and an additional 10 percent energy community bonus.
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