{"id":888544,"date":"2025-09-22T18:17:29","date_gmt":"2025-09-22T22:17:29","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/oci-energy-and-ing-finalize-construction-financing-for-a-major-battery-project-in-texas\/"},"modified":"2025-09-22T18:17:29","modified_gmt":"2025-09-22T22:17:29","slug":"oci-energy-and-ing-finalize-construction-financing-for-a-major-battery-project-in-texas","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/oci-energy-and-ing-finalize-construction-financing-for-a-major-battery-project-in-texas\/","title":{"rendered":"OCI Energy and ING finalize construction financing for a major battery project in Texas"},"content":{"rendered":"

\nProject Alamo City to deliver 480 MWh of grid-strengthening storage capacity for CPS Energy
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SAN ANTONIO, Sept. 22, 2025 (GLOBE NEWSWIRE) — OCI Energy is proud to announce the successful closing of construction financing for its Project Alamo City, a flagship battery energy storage system (BESS) currently under development in Bexar County, Texas. 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\u2019s energy future.<\/p>\n

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. The relationship between ING and OCI Energy has proven instrumental in advancing the project from concept to construction.<\/p>\n

\u201cProject Alamo City represents a bold step forward in our commitment to enhancing grid stability and ensuring long-term energy reliability,\u201d said Sabah Bayatli, President of OCI Energy. \u201cIt also marks OCI Energy\u2019s return as a developer-owner-operator in the project finance space, and partnering with a financial institution like ING has been instrumental in bringing this transformative project to fruition.\u201d<\/p>\n

\u201cThe successful financing of Project Alamo City is a testament to the strength of the partnership between OCI Energy and ING Capital LLC. This project not only advances the deployment of cutting-edge battery storage technology in Texas, but also demonstrates the power of collaborative, innovative financing to accelerate the energy transition. We are proud to support OCI Energy and CPS Energy in delivering a project that will provide lasting benefits to the community and the broader energy market\u201d said Sven Wellock, Head of Renewables and Power, Americas, ING.<\/p>\n

OCI Energy had previously announced the execution of a 20-year Storage Capacity Agreement with CPS Energy, the largest municipally-owned electric and natural gas utility in the United States. 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.<\/p>\n

The project brings together a powerhouse team for collaboration, including:<\/p>\n