OCI eyeing U.S. market after signing deal with CPS Energy

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OCI eyeing U.S. market after signing deal with CPS Energy

Korean polysilicon maker OCI said yesterday it has signed a solar power supply deal with a U.S. company in a move to help expand its presence in the U.S. market.

Under the contract with CPS Energy, San Antonio’s municipal utility operator, OCI said its U.S.-based OCI Solar Power affiliate will build a power station with a capacity of 400 megawatts over the next five years at a cost of 114 billion won ($99.2 million).

Work on the power generation facility and supply system is expected to start this year.

Once built, the solar power generation complex in Texas will be the second-largest of its kind in the world and should be able to provide electricity to 10 percent of the 70,000 households in the San Antonio region.
OCI said its majority-owned U.S. affiliate has also earned the rights to provide power to CPS for the next 25 years, which could generate 2.5 billion won in sales.

Related to the OCI project, Nexolon, which specializes in local ingots and wafers, said it will construct a module plant in Texas. Nexolon is a partner in the OCI venture.

It said to meet output capacity it will invest $100 million into the building project.

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