OCI Energy Secures $130 Million Financing for Major Battery Project in San Antonio

OCI Energy's Landmark Financing for Alamo City Battery Project

In June 2026, OCI Energy, a top developer of large-scale solar and battery storage solutions, announced a significant financial milestone by securing approximately $130 million in tax equity financing for its Alamo City Battery Energy Storage System (BESS) located in Bexar County, Texas. The financing, arranged in collaboration with Greenprint Capital, a clean energy investment firm, marks a pivotal step in advancing the project's development.

The Alamo City BESS is designed to operate at a capacity of 120 megawatts and holds a remarkable 480 megawatt-hour energy storage capability. This facility is being built under a long-term storage capacity agreement with CPS Energy, which is recognized as the largest municipally owned electric and natural gas utility in the United States. With this successful financing, OCI Energy is set to bolster the region's energy resilience and enhance power distribution reliability during peak demand periods.

Sabah Bayatli, President of OCI Energy, expressed optimism about the project, stating, "This tax equity transaction reflects the continued momentum behind Alamo City BESS and the strength of our project partnerships." He further emphasized that this funding is critical to the project's financial structure, demonstrating the confidence that major financial institutions have in both OCI Energy and the Alamo City BESS initiative.

Ed Rossier, Managing Director of Investments at Greenprint Capital, echoed Bayatli's sentiments, highlighting that this financing marks one of their first investments using the technology-neutral Clean Electricity Investment Credit. He emphasized the company's commitment to supporting tax-efficient capital solutions that finance dispatchable energy resources, bringing critical energy storage infrastructure to the Electric Reliability Council of Texas (ERCOT) market.

The Alamo City BESS is set to provide enough power for approximately 30,000 homes for up to four hours when demand is at its highest, making it a crucial asset in the ERCOT's energy landscape. Its capability for a four-hour discharge positions it as one of the distinguished long-duration storage assets, enabling sustained energy availability when it is needed most.

Additionally, OCI Energy has partnered with several experienced companies to bring the Alamo City BESS to fruition. ING provided construction financing, while LG Energy Solution Vertech is supplying the battery technology and Elgin Power Solutions is appointed as the EPC contractor. Together, they augment OCI Energy's expertise in delivering this pivotal energy storage project.

Expected to commence commercial operations in 2027, the Alamo City BESS illustrates OCI Energy's determination to address the growing energy demands in Texas. Since its founding, OCI Energy has distinguished itself as a developer, owner, and operator of capital-intensive solar and energy storage projects, furthering its mission to support clean energy initiatives and contribute to the stability of the power grid.

As a leader in clean energy investments, Greenprint Capital has demonstrated its commitment to fostering partnerships that drive the energy transition. Since its inception, Greenprint has facilitated investments exceeding $3 billion into various clean energy projects, reinforcing its mission-driven approach aimed at reshaping the energy landscape.

The development of the Alamo City BESS signifies not just a financial triumph for OCI Energy and Greenprint Capital but also a strategic advancement for renewable energy infrastructure in Texas. With its innovative solutions and sustainable practices, OCI Energy is poised to play a vital role in meeting the country's escalating energy demands while promoting a greener, more reliable future for communities across the region.