News of two utility-scale solar PV developments in Texas, where construction began on a 347MW project in Wharton County and finances secured for a 310MW/250MWh pair of projects.
US independent power producer (IPP) OCI Energy and Israeli IPP Areva Power have broken ground on the 347MW SunRoper solar PV project in Texas.
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The project in Wharton County, Texas, is expected to begin operations in December 2027. The companies said that the site is backed by a long-term power purchase agreement (PPA) with an unnamed Fortune 100 company and will add “significant new generating capacity” to the Houston metropolitan area, one of the largest demand areas in the US.
The SunRoper project is being financed by ING and will be built by construction firm WHC.
“SunRoper demonstrates how strategic partnerships can help meet Texas’ growing demand for electricity through investments in critical energy infrastructure,” said Sabah Bayatli, president of OCI Energy, which is owned by the US subsidiary of Korean chemicals manufacturing firm OCI Holdings.
OCI, Areva and ING closed construction financing for the SunRoper project in February 2026, which included funds from US bank BHI and the Israeli Bank of Hapoalim.
The two IPPs have had a relationship in the Texas solar market since 2021, when Areva acquired the 270MW SUNRAY project in Ulvade County from OCI Energy. In May this year, Areva acquired a 50% stake in OCI Energy’s La Salle solar project in Texas. The 670MW project is expected to start commercial operations in 2028, when it will be the largest single-site solar project in OCI’s portfolio.
Finances closed for Sunraycer’s 310MW/250MWh Texas solar/storage portfolio
Sunraycer, the Maryland-based IPP, has closed financing on two Texas solar-plus-storage projects with a combined 310MW/250MWh of solar PV and energy storage capacity.
The closing funds were delivered by Monarch Private Capital, an investment firm which focuses on projects tied to federal tax credits. Monarch provided tax equity financing to both projects, though did not disclose the respective values.
The projects in question are the 127MW/100MWh Midpoint solar project in Hill County, Texas, and the 183MW/150MWh Gaia project in Navarro County. Both projects are backed in part by Environmental Attribute Purchase Agreements (EAPA) with tech giant Meta, signed in May 2025. They began full-scale operations in the first half of this year.
“The completion of Midpoint and Gaia represents another important milestone in Monarch’s mission to finance energy infrastructure that delivers both attractive investor returns and meaningful long-term impact,” said Bryan Didier, partner and managing director of energy, at Monarch Private Capital. “Our partnership with Sunraycer demonstrates what’s possible when sophisticated developers marry with disciplined tax equity investors to bring complex utility-scale long-term energy solutions online.”
“Monarch’s tax equity expertise and engagement have been instrumental in bringing these projects to full-scale operation, and we’re proud of what our teams have accomplished together,” added David Lillefloren, chief executive officer of Sunraycer.
Back in April 2025, the company secured US$475 million in project financing for the Gaia and Midpoint projects.
In addition to these, it is also developing the 400MW Lupinus project in Texas, which is backed by a power purchase agreement (PPA) with Google.
