SAN ANTONIO, Aug. 15, 2025 (GLOBE NEWSWIRE) -- OCI Energy and Sabanci Renewables today announced the successful closing of the sale of Project Lucky 7 Solar, a 100 MWac / 130MWdc project located in Hopkins County, Texas, within the ERCOT-North market. The project, which was developed by OCI Energy, will now move forward to construction and operation under the leadership of Sabanci Renewables. In July, OCI Energy sold Project Pepper to Sabanci Renewables, a 120 MWac / 156 MWdc solar project in McLennan County.
Spanning approximately 745 acres, Lucky 7 Solar will deliver clean, reliable energy to the electrical grid to meet increasing power demand in the region. The project is expected to reach commercial operation in 2027.
To commemorate the agreement, executives from both companies gathered for a signing ceremony at OCI Energy’s headquarters in San Antonio earlier this week. The event marked the second successful transaction between the companies in the last couple of months.
“Our expanding collaboration with Sabanci Renewables reflects both companies’ commitment to delivering high-impact, long-lasting clean energy projects that strengthen grid security and support power market affordability” said Sabah Bayatli, President, OCI Energy. “We’re proud to hand off Project Lucky 7 and excited to see them carry it forward to construction and ultimately to commercial operation. Our shared vision makes Sabanci an ideal partner for advancing clean energy in Texas.”
“At Sabanci Renewables, we remain focused on creating long-term value in line with our Bridge to a Better Future vision while expanding our renewable energy investments in the United States. Project Lucky 7 marks another significant step in delivering clean and reliable energy,” said Tolga Kaan Doğancıoğlu, CEO, Sabanci Renewables. “The acquisition aligns with Sabanci Group’s 100-year legacy of responsible growth and long-term value creation. We sincerely appreciate the OCI Energy team’s professionalism and collaborative spirit throughout this process. Their dedication and shared vision have been important to the success of this transaction, and we look forward to continuing our partnership. The next step is to bring the project into commercial operation in 2027, contributing to the region’s energy needs."
In addition to the closing, OCI Energy and Sabanci Renewables agreed to explore future project opportunities together, with both companies expressing mutual interest in developing and delivering energy solutions that are secure, reliable, and affordable.
Sidley Austin LLP provided legal services to OCI Energy and Troutman Pepper Locke LLP provided legal services to for Sabanci Renewables.
About Sabanci Renewables
Sabanci Renewables is a wholly owned subsidiary of Sabancı Holding, one of Türkiye's leading holding companies, operates in various sectors including banking, digital, energy, financial services, material technologies and mobility solutions through its subsidiaries and affiliates. As of 2024, the Sabancı Group serves over 40 million customers with approximately 60,000 employees across 17 countries. Sabanci Renewables is targeting to establish 3 GW of renewable portfolio in the U.S. by the end of 2030. With Cutlass II and Oriana Solar, Sabanci Renewables owns 504 MW of capacity. Learn more at sabanciclimatetech.com
About OCI Energy
OCI Energy is a leading developer, owner, and operator of utility-scale solar and battery energy storage projects. Since its establishment in 2012, OCI Energy has been committed to accelerating the clean energy transition through high performing solar and storage assets. From pre-development through to asset management, OCI Energy has a diverse nationwide portfolio of projects, targeting up to 10 GW by 2028. OCI Energy continues to lead the way in providing the energy assets that drive economic growth and security for communities across the U.S.
Media Contact:
Leslie Garza-Wright
Director of Communications
210-612-4978
lgwright@ocienergy.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c8e860ab-285e-4dba-adfc-ab7d0f1b62be
