Foley Advises OCI Energy in Construction to Term Debt Financing for Major Texas Battery Project

Foley & Lardner LLP served as legal counsel to OCI Energy in the successful closing of construction to term financing for Project Alamo City, a flagship battery energy storage system 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’s energy future. 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.

OCI Energy is a leading developer, owner, and operator of utility-scale solar and battery energy storage projects. Since its establishment in 2012, OCI Energy has been committed to accelerating the clean energy transition through high performing solar and storage assets. From pre-development through to asset management, OCI Energy has a diverse nationwide portfolio of projects, targeting up to 10 GW by 2028. OCI Energy continues to lead the way in providing the energy assets that drive economic growth and security for communities across the United States.

The Foley team was led by partner Jocelyn Lavallo with support from partner Adam Schurle, of counsels Tom Mullooly and Nicholas Wendland, special counsel Olya Petukhova, and associates Rachel Conrad, Jennifer Gardner, and Jake Balducci.