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					</table><p><a href="https://www.ocienergy.com/" target="_blank" rel="noopener">OCI Energy</a>, a utility-scale solar and battery storage project developer, and <a href="https://aravapower.com/" target="_blank" rel="noopener">Arava Power</a>, an Israeli utility-scale renewable energy company, have signed a Membership Interest Purchase Agreement (MIPA) for La Salle Solar, a 670 MW solar project in La Salle County, Texas.</p>
<p>Under the MIPA agreement, Arava Power will acquire a 50% ownership interest in the project. OCI Energy and Arava Power will jointly finance, construct, own, and operate La Salle Solar.</p>
<p>The project is expected to begin commercial operations in 2028. At full capacity, the project is expected to generate enough clean electricity to power approximately 100,000 households.</p>
<p>&#8220;La Salle Solar is a milestone not only because of its size, but because it reflects the consistency and expertise of our team,&#8221; said Sabah Bayatli, President of OCI Energy. &#8220;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.&#8221;</p>
<p>La Salle Solar is the largest single-site solar project announced by the two companies to date, according to the announcement. It is also their third collaboration in the Texas renewable energy market. The companies did not disclose the financial terms of the transaction.</p>
<p>In March 2026, OCI Energy, Arava Power, and ING Capital jointly <a href="https://mercomcapital.com/oci-energy-and-arava-power-close-financing-for-347-mw-solar-project/" target="_blank" rel="noopener">announced</a> the successful closure of construction financing for the SunRoper Solar project, a 347 MWdc solar project in Wharton County, Texas, being developed through a joint venture between OCI Energy and Arava Power.</p>
<p>Previously, in 2025, OCI Energy also announced the <a href="https://mercomcapital.com/oci-energy-sells-120-mw-solar-project-to-sabanci-renewables/" target="_blank" rel="noopener">sale</a> of the 120 MWac Pepper solar project to Sabanci Renewables, a North American subsidiary of Turkish conglomerate Sabanci Holdings. The project is located in McLennan County, Texas.</p>
<p>According to Mercom&#8217;s Q1 2026 Solar Funding and M&amp;A <a href="https://mercomcapital.com/product/q1-2026-solar-funding-ma-report/" target="_blank" rel="noopener">report</a>, approximately 18.4 GW of solar projects were acquired in the first quarter of 2026, compared to 13.6 GW in Q1 2025.</p>


Arava Power to Acquire 50% Stake in La Salle Solar Project


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					</table><p><a href="https://www.ocienergy.com/" target="_blank" rel="noopener">OCI Energy</a>, a developer of utility-scale solar and battery storage projects, <a href="https://aravapower.com/" target="_blank" rel="noopener">Arava Power</a>, a utility-scale renewable energy company, and ING Capital have jointly announced the successful closure of construction financing for the SunRoper Solar project.</p>
<p>The financing package includes a construction-to-term loan, a tax equity bridge loan, and various letters of credit. ING Capital serves as the sole coordinating lead arranger, sole bookrunner, and sole green loan coordinator, and will also act as the administrative agent.</p>
<p>This financing marks the second transaction between OCI Energy and ING, building on their previous collaboration.</p>
<p>SunRoper is a 347 MWdc solar project in Wharton County, Texas, being developed through a joint venture between OCI Energy and Arava Power.</p>
<p>Additional partners involved in the project include BHI and Bank of Hapoalim, which supplied financing support and letters of credit for the project’s development. Foley &amp; Lardner served as legal counsel to the joint venture between OCI Energy and Arava Power, while Skadden, Arps, Slate, Meagher &amp; Flom represented ING.</p>
<p>The total investment associated with Project SunRoper is expected to be approximately $394 million.</p>
<p>WHC has been appointed as the EPC contractor, and Black &amp; Veatch is serving as the technical advisor.</p>
<p>&#8220;The close of construction financing for Project SunRoper represents an important milestone for OCI Energy and our partners,&#8221; said Sabah Bayatli, President of OCI Energy. &#8220;This transaction reflects our continued commitment to deliver high-quality, utility-scale solar projects that strengthen grid reliability and provide affordable energy infrastructure.&#8221;</p>
<p>The construction financing is supported by a 20-year power purchase agreement with a Fortune 100 company.  The project is slated to begin commercial operation in Q3 2027 and is expected to support grid reliability, affordability, and emissions reduction.</p>
<p>Large-scale solar project funding increased by 37% in 2025 compared with the funding raised in 2024, according to Mercom’s recently released Annual and Q4 2025 Solar Funding and M&amp;A <a href="https://cms.mercomindia.com/product/annual-and-q4-2025-solar-funding-and-ma-report/" target="_blank" rel="noopener">report</a>.</p>
<p>In August, Scatec <a href="https://cms.mercomindia.com/scatec-secures-27-million-financing-for-142-mw-solar-project/" target="_blank" rel="noopener">secured</a> BRL 150 million (~$27 million) non-recourse project financing for the development of a 142 MW solar project in Minas Gerais, Brazil. The funding was provided by Banco de Nordeste do Brasil.</p>


OCI Energy and Arava Power Close Financing for 347 MW Solar Project

<p><a href="https://www.pd46energy.com/" target="_blank" rel="noopener">Palladium Energy</a>, a renewable energy project developer, announced the sale of a 364 MW solar plus 280 MWh storage portfolio to <a href="https://www.exusrenewables.com/north-america" target="_blank" rel="noopener">Exus Renewables North America</a> (Exus) through its joint venture with <a href="https://aravapower.com/" target="_blank" rel="noopener">Arava Power</a>, a utility-scale renewable energy project developer.</p>
<p>Exus, an independent developer and operator of utility-scale renewable energy projects, will continue the portfolio&#8217;s development, construction, and asset management. KeyBanc Capital Markets served as the exclusive financial advisor for the transaction.</p>
<p>&#8220;We are proud of the excellent projects we developed with our partners at Palladium and their successful sale to a top-tier shop like Exus,&#8221; said Arava CEO Ilan Zidkony. &#8220;Developing and selling these projects marks another milestone in Arava&#8217;s expansion into the US renewables space, establishing our commitment and capabilities in the market.&#8221;</p>
<p>The portfolio includes three mid-stage projects situated in PJM and MISO. Palladium and Arava initiated the projects, conducted site acquisition, executed diligence and early-stage development, and progressed the projects in their respective interconnection queues.</p>
<p>Palladium is a utility-scale power infrastructure developer with a project pipeline in PJM, MISO, SERC, ERCOT, and WECC in the U.S.</p>
<p>&#8220;We are thrilled to announce the sale of these projects to a leading asset manager like Exus. The transaction demonstrates the quality of the projects and the Palladium execution team. We are also thankful to our partner, Arava, for enabling the development and sale of these projects,&#8221; said Danny Weidlich, CEO of Palladium.</p>
<p>According to Mercom&#8217;s recently <a href="https://cms.mercomindia.com/product/q1-2025-solar-funding-ma-report/" target="_blank" rel="noopener">released</a> Q1 2025 Solar Funding and M&amp;A report, about 13.6 GW of solar projects were acquired in Q1 2025 compared to 10.8 GW in Q1 2024.</p>
<p>In January, ContourGlobal, a renewable energy power generation company, <a href="https://cms.mercomindia.com/contourglobal-acquires-888-mw-hybrid-solar-plus-storage-project/" target="_blank" rel="noopener">announced</a> the acquisition of an advanced-stage solar-plus-storage project with a total capacity of 888 MW. The project will be developed in two phases, featuring 567 MWp of solar capacity and 321 MW/1.3 GWh of battery energy storage. Once operational, the project will provide clean electricity to customers in WECC-Southwest, Arizona, and CAISO, California.</p>


Exus Acquires Solar Plus Storage Project Portfolio

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