SAN ANTONIO, Feb. 23, 2026 (GLOBE NEWSWIRE) -- 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 347 MWdc solar project located in Wharton County, Texas. 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.

Project SunRoper is being developed through a joint venture between OCI Energy and Arava Power, a pioneer in Israel's solar energy sector. The Companies selected ING Capital to underwrite the financing package which includes a construction-to-term loan, a tax equity bridge loan, and various letters of credit. ING Capital serves as sole coordinating lead arranger, sole bookrunner, and sole green loan coordinator, and will also act as administrative agent.

The total investment associated with Project SunRoper is expected to be approximately $394 million.

The construction financing is supported by a 20-year power purchase agreement (PPA) with a Fortune 100 company.

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.

Foley & Lardner LLP provided legal counsel to the SunRoper joint venture between OCI Energy and Arava Power.

Skadden, Arps, Slate, Meagher & Flom LLP represented ING.

WHC, LLC will serve as the EPC Contractor.

Black & Veatch is acting as the technical advisor.

"The close of construction financing for Project SunRoper represents an important milestone for OCI Energy and ...