Buckeye Partners L.P. has acquired a 270 MW, construction-ready solar project from OCI Solar Power LLC. Project Parker includes two sites that are located in Falls County, Texas. OCI Solar Power has secured site control and completed all permitting and electrical interconnection agreements.
Buckeye plans to start project design and construction later this year with the goal of bringing the project online in first quarter 2023.
“Buckeye’s investment in Project Parker is an example of our strategy to drive sustainable value for our customers while playing an essential role in the energy transition,” says Clark Smith, Buckeye’s president and CEO. “As we continue to evolve into a more diversified energy company, acquisitions like Project Parker represent an opportunity to invest in growth that aligns with our business and ESG priorities, and leverages our existing expertise and capabilities.”
“Having developed 650 MW DC of currently operational solar projects in Texas, we made the key strategic decision several years ago to develop more in Texas with an emphasis on projects that can meet the electricity demands of population centers in the eastern half of the state,” explains Charles Kim, president and CEO of OCI Solar Power. “Our strategy is now being rewarded by the market, and the sale of Project Parker to such a well-respected energy company like Buckeye further validates our approach. Now we’re eager to see Project Parker move forward into the construction phase.”
Image source: Photo by MICHAEL WILSON