OCI Energy and ING Capital collaborate on financing for Alamo City Battery Energy Storage System project
By Global Infrastructure Sherpa · Feb 23, 2026
OCI Energy and ING Capital previously worked together on financing for the Alamo City Battery Energy Storage System project. This was mentioned in the context of announcing the financing for Project SunRoper.
Deal Analysis
OCI Energy and ING Capital's collaboration on financing for the Alamo City Battery Energy Storage System project, announced in February 2026, signifies continued investment in U.S. energy storage infrastructure. While specific details regarding the project's capacity and value remain undisclosed, the involvement of ING Capital, a global financial institution with a focus on sustainable investments, suggests a commitment to supporting renewable energy initiatives. This prior collaboration was referenced during the announcement of financing for Project SunRoper, indicating a potentially ongoing relationship between OCI Energy and ING Capital in the renewable energy sector.
The deal highlights the growing importance of battery energy storage systems in supporting grid stability and enabling the integration of intermittent renewable energy sources. The partnership between a dedicated energy developer like OCI Energy and a global financial institution like ING Capital underscores the increasing financial viability and attractiveness of energy storage projects. While the lack of specific financial details limits a comprehensive assessment, the announcement signals continued momentum in the U.S. energy storage market and the role of established financial institutions in facilitating its growth.
- Collaboration between OCI Energy and ING Capital
- Financing for the Alamo City Battery Energy Storage System project
- ING Capital's focus on sustainable investments
- Indicates continued growth in the U.S. energy storage market
Market Context: The U.S. energy storage market is experiencing significant growth, driven by the increasing need for grid stabilization, renewable energy integration, and peak demand management. Battery energy storage systems are becoming increasingly cost-competitive and are playing a crucial role in the transition to a cleaner energy future.
Source Intelligence
KEY DETAILS
ING Capital serves as sole coordinating lead arranger, sole bookrunner, and sole green loan coordinator, and will also act as administrative agent.
This is the second such transaction between OCI Energy and ING, previously having worked together on financing for the Alamo City Battery Energy Storage System project, and the first among the three Companies.
“
Deal Size
The total investment associated with Project SunRoper is expected to be approximately $394 million.
“
Capacity
OCI Energy and Arava Power have closed construction financing with ING Capital to support a 347 MWdc solar energy project near Houston
“
Location
a 347 MWdc solar energy project located in Wharton County, Texas...Located approximately 60 miles southwest of downtown Houston
“
PPA Details
The construction financing is supported by a 20-year power purchase agreement (PPA) with a Fortune 100 company.
“
Announcement
February 23, 2026
“
COD
The project is slated to begin commercial operation in Q3 2027
PARTIES MENTIONED IN SOURCE
O
OCI Energy
developer
"OCI Energy LLC (“OCI Energy”), Arava Power, and ING Capital LLC (“ING”) (together, the “Companies”) today announced the successful close of construction financing for Project SunRoper"
A
Arava Power
developer
"OCI Energy LLC (“OCI Energy”), Arava Power, and ING Capital LLC (“ING”) (together, the “Companies”) today announced the successful close of construction financing for Project SunRoper"
I
ING Capital LLC
lender
"OCI Energy LLC (“OCI Energy”), Arava Power, and ING Capital LLC (“ING”) (together, the “Companies”) today announced the successful close of construction financing for Project SunRoper"
B
BHI
lender
"Other collaborators on Project SunRoper include: BHI and Bank of Hapoalim, which provided financing support and letters of credit to support the development of the project."
B
Bank of Hapoalim
lender
"Other collaborators on Project SunRoper include: BHI and Bank of Hapoalim, which provided financing support and letters of credit to support the development of the project."
F
Foley & Lardner LLP
advisor
"Foley & Lardner LLP provided legal counsel to the SunRoper joint venture between OCI Energy and Arava Power."
S
Skadden, Arps, Slate, Meagher & Flom LLP
advisor
"Skadden, Arps, Slate, Meagher & Flom LLP represented ING."
W
WHC, LLC
EPC Contractor
"WHC, LLC will serve as the EPC Contractor."
B
Black & Veatch
advisor
"Black & Veatch is acting as the technical advisor."
high quality
Enriched Feb 26, 2026
Market Context
This deal is part of the Storage sector in United States.
575
deals in United States
1 of 108 Storage deals tracked this month · Updated daily
Global Infrastructure Sherpa