ING Capital LLC, a U.S. subsidiary of ING Groep N.V., closed a $394 million construction‑to‑term loan, tax‑equity bridge loan, and letters of credit for Project SunRoper, a 347 MWdc solar plant in Wharton County, Texas, 60 miles southwest of Houston.
The financing marks the second collaboration between ING Capital and OCI Energy, following the Alamo City Battery Energy Storage System. Project SunRoper is a joint venture between OCI Energy and Arava Power and is backed by a 20‑year power purchase agreement with a Fortune 100 company. Commercial operation is slated for Q3 2027, adding critical clean‑energy capacity to one of the United States’ highest‑demand regions.
Sven Wellock, Managing Director at ING Capital, said the project “exemplifies the high‑quality renewable infrastructure we seek to finance – a strong sponsor partnership, a long‑term contracted revenue profile, and a well‑located asset in one of the most dynamic power markets in the United States.” The deal demonstrates ING’s ability to structure large‑scale renewable projects and generate fee income while expanding its U.S. green‑finance presence.
Sabah Bayatli, President of OCI Energy, noted the transaction reflects the company’s commitment to delivering high‑quality utility‑scale solar that strengthens grid reliability. Ilan Zidkony, CEO of Arava Power, said SunRoper is a strategic milestone supporting the company’s goal of building 1 GW of U.S. solar capacity.
The financing aligns with broader U.S. renewable trends, including incentives from the Inflation Reduction Act that support solar investments. By securing a sizable construction loan and tax‑equity bridge, ING positions itself to capture growing demand for clean‑energy financing in Texas, a state that continues to expand its renewable portfolio.
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