Buckeye Partners L.P. has acquired a ready-to-build solar project with 270 MW from OCI Solar Power LLC. Project Parker has two locations in Falls County, Texas. OCI Solar Power has secured site control and has concluded all permit and power connection agreements.
Buckeye plans to begin project planning and construction later this year, with the goal of getting the project online in the first quarter of 2023.
"Buckeye's investment in Project Parker is an example of our strategy of creating sustainable value for our customers while playing an integral role in the energy transition," said Clark Smith, President and CEO of Buckeye. "As we continue to evolve into a more diversified energy company, acquisitions like Project Parker offer an opportunity to invest in growth that aligns with our business and ESG priorities and leverages our existing know-how and capabilities."
“After developing 650 MW of DC power on currently operating solar projects in Texas, we made the critical strategic decision several years ago to develop more in Texas, with a focus on projects that would meet the power needs of metropolitan areas in the eastern half of the state can cover. “Explains Charles Kim, President and CEO of OCI Solar Power. “Our strategy is now being marketed, and the sale of Project Parker to an energy company as respected as Buckeye further validates our approach. Now we are excited to see how Project Parker will move into the construction phase. "
Source: Photo by MICHAEL WILSON
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