April 26, 2024
Industrials
OCI sells US affiliate for W451b
[THE INVESTOR] Leading solar power firm OCI announced on Dec. 5 that it has decided to sell its US affiliate for 451 billion won (US$385 million) to improve its financial status.
In a regulatory filing, the firm said it has agreed to sell OCI Solar San Antonio 6. The company did not unveil the name of the buyer.
Since 2012, OCI has been conducting a 400MW-solar power project in Texas under which a total of seven solar farms have been established.
The proceeds from the asset sale will be used to beef up its financial footing and fund another solar power project in the US, the company said.
Early this year, OCI also sold OCI Alamo 7.
(theinvestor@heraldcorp.com)
In a regulatory filing, the firm said it has agreed to sell OCI Solar San Antonio 6. The company did not unveil the name of the buyer.
Since 2012, OCI has been conducting a 400MW-solar power project in Texas under which a total of seven solar farms have been established.
The proceeds from the asset sale will be used to beef up its financial footing and fund another solar power project in the US, the company said.
Early this year, OCI also sold OCI Alamo 7.
(theinvestor@heraldcorp.com)
