Buckeye Partners LP has acquired a 270 MW, construction-ready solar project (Project Parker) from OCI Solar Power.
Project Parker includes two sites that are located on adjacent land 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,” said Buckeye President and CEO Clark Smith. “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 MWDC of currently operational solar projects in Texas, OCI Solar Power 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 centres in the eastern half of the state. 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,” said Charles Kim, president & CEO. “Now we’re eager to see Project Parker move forward into the construction phase.”
For more information visit buckeye.com
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