Construction Financing Complete for 347-MW Texas Solar Power Project

• BHI and Bank of Hapoalim, which provided financing enactment and letters of recognition to enactment the improvement of the project.

• Foley & Lardner LLP provided ineligible counsel to the SunRoper associated task betwixt OCI Energy and Arava Power.

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

• WHC, LLC volition service arsenic the engineering, procurement, and operation contractor.

• Black & Veatch is acting arsenic the method advisor.

“The adjacent of operation financing for Project SunRoper represents an important milestone for OCI Energy and our partners,” said Sabah Bayatli, president of OCI Energy. “This transaction reflects our continued committedness to present high-quality, utility-scale star projects that fortify grid reliability and supply affordable vigor infrastructure.” “Arava Power is entering a pivotal signifier of growth, and the U.S. marketplace is simply a cardinal pillar of our long‑term strategy,” said Ilan Zidkony, CEO of Arava Power. “Project SunRoper highlights the spot of our collaboration with OCI Energy. Our teams person operated with exceptional alignment and a shared committedness to excellence—securing the strongest commercialized package, finalizing financing, and completing a long‑term busbar PPA with a large U.S. vigor institution to beforehand the task toward construction. SunRoper is simply a strategical milestone that supports our imaginativeness of gathering much than 1 GW of star capableness successful the United States wrong the adjacent 2 years.” “We are grateful for the accidental to enactment OCI Energy and Arava Power connected the financing of Project SunRoper,” said Sven Wellock, managing manager astatine ING. “This task exemplifies the high‑quality renewable infrastructure we question to finance—a beardown sponsor partnership, a long‑term contracted gross profile, and a well‑located plus successful 1 of the astir dynamic powerfulness markets successful the United States. We are arrogant to physique connected our existing narration with OCI Energy and to spouse with Arava Power connected its continued enlargement successful the U.S. market, advancing a task that volition present reliable, affordable cleanable vigor for years to come.” Project SunRoper is located astir 60 miles southwest of Houston, Texas. The installation is expected to statesman commercialized cognition successful 3Q2027. OCI Energy, founded successful 2012, is simply a developer, owner, and relation of utility-scale star and artillery vigor retention projects. The institution has a divers nationwide portfolio of projects, and is targeting up to 10 GW of procreation capableness by 2028. Arava Power is an Israeli utility-scale renewables developer and autarkic powerfulness producer. The institution said it pioneered the Israeli utility-scale photovoltaic marketplace successful 2007. The institution develops, owns, and operates a multi-gigawatt portfolio of star vigor and vigor retention assets successful Israel and the U.S. ING Capital LLC is simply a fiscal services steadfast serving firm and organization clients. The institution is an indirect U.S. subsidiary of ING Bank NV, portion of ING Groep NV (NYSE: ING), a planetary fiscal instauration with a beardown European base. —Darrell Proctor is simply a elder exertion for POWER.