OCI Energy and Arava Power execute MIPA for 670 MWdc La Salle Solar in Texas

SAN ANTONIO, May 13, 2026 /PRNewswire/ -- 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.

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."

"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.

About OCI Energy
OCI Energy is a leading developer, owner, and operator of utility-scale solar and battery energy storage projects. Since its establishment in 2012, OCI Energy has been committed to accelerating the clean energy transition through high performing solar and storage assets. From pre-development through to asset management, OCI Energy has a diverse portfolio of projects, targeting up to 10 GW by 2028. OCI Energy continues to lead the way in providing the energy assets that drive economic growth and security for communities across the U.S.

About Arava Power
Arava Power is an Israeli utility-scale renewables developer and independent power producer (IPP) that pioneered the Israeli utility-scale photovoltaic (PV) market in 2007. The company develops, owns, and operates a multi-gigawatt portfolio of solar energy and energy storage assets in Israel and the USA. Arava Power is committed to delivering clean, sustainable energy solutions and has been at the forefront of the energy transition, contributing significantly to the renewable energy landscape.

Media Contacts:
Leslie Garza-Wright
Director of Communications, OCI Energy
[email protected]
210-612-4978

Merav Parsi
PR and Media advisor , Arava Power
[email protected]
972-50-5567707

SOURCE OCI Energy