OCI Energy recently announced the successful closing of construction financing for Project Alamo City, a flagship battery energy storage system currently under development in Bexar County, Texas.
OCI Energy previously announced the execution of a 20-year Storage Capacity Agreement with CPS Energy, the public power utility for San Antonio, Texas.
Under that agreement, OCI Energy is responsible for the development, financing, construction, and ownership of Project Alamo City, and CPS Energy will have operational control.
Project Alamo City is expected to enter commercial operation in Q3 2027.
With a planned capacity of 120 MW and with a 4-hour duration, Project Alamo City will be a significant standalone battery storage installation in Texas, designed to strengthen grid reliability and support the region’s energy future, OCI Energy said.
OCI Energy selected ING to underwrite the construction financing package which includes a construction-to-term loan, a tax equity bridge loan, and letters of credit.
ING served as sole coordinating lead arranger, sole bookrunner, and sole green loan coordinator, and will also act as administrative agent.
