Korea’s OCI, US partner CPS Energy sign 20-year energy storage deal

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Korea’s OCI, US partner CPS Energy sign 20-year energy storage deal - Korea Economic Daily

Quick Summary:

South Korean solar cell company OCI Holdings Co.said on Tuesday it has signed a deal with US power supplier CPS Energy to jointly build a 120-megawatt solar cell plant and related battery energy storage system (BESS) with 480 MWh storage capacity in Texas.

Since 2011, OCI Energy has been operating 5.2 GW solar and ESS projects in the US.“Through this agreement with CPS Energy, we have confirmed the local market's trust in OCI Energy's capabilities in the solar power business.

Based in Texas, OCI Energy has steadily invested in the US solar cell segment to bolster its presence in the North American BESS market.