OCI Energy Announces Sale of Hillsboro Project to Hyundai Engineering Co., Ltd.
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SAN ANTONIO, July 31, 2024 ~ OCI Energy, a leading renewable energy company, has announced the successful sale of a 260 MWdc solar project to Hyundai Engineering Co., Ltd. This groundbreaking transaction marks the first collaboration between the two companies and sets the stage for future partnerships in renewable energy development.

The official transaction closing and Memorandum of Understanding (MOU) signing ceremony took place at OCI Energy's headquarters in San Antonio. The event was attended by team members from Hyundai's Houston office and representatives from its parent company in Seoul, South Korea.

The project, named Project Hillsboro, is currently under development in Hill County, within the ERCOT North load zone. Hyundai Engineering will be responsible for constructing the project and expects it to begin operating in the first quarter of 2027.

Sabah Bayatli, President of OCI Energy, expressed enthusiasm about the partnership, stating, "We are thrilled to complete the sale of Project Hillsboro to Hyundai Engineering Co., Ltd. This not only marks an important step in our commitment to advancing renewable energy in the U.S., but also serves as a platform for future collaboration between our companies. We look forward to working together on additional projects that support the electrical grid and contribute to a sustainable energy future."

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Dong Joon Kim, Vice President of Hyundai Engineering Co., Ltd., also shared his excitement about this milestone for their company. "We are very pleased to have successfully acquired our first solar project in the United States. This marks a significant achievement as we venture into the renewable energy sector. We would like to extend our heartfelt appreciation to OCI Energy for their exceptional work in developing this remarkable solar project. With this project, we look forward to continuing our cooperation and building a strategic partnership with OCI Energy for upcoming projects."

This sale comes shortly after OCI Solar Power's rebranding as OCI Energy. The new name reflects their expanded business focus which now includes utility-scale solar projects and battery energy storage systems, positioning OCI Energy as a versatile leader in the renewable energy sector.

For more information, please contact Leslie Garza-Wright, Senior Manager of Marketing and Communications at 210-612-4978.
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