OCI Energy and ING have successfully finalized construction financing for Project Alamo City, a flagship battery energy storage system (BESS) in Bexar County, Texas. The project is planned with a capacity of 120 MW and a 4-hour duration, designed to enhance grid reliability.
ING was selected to underwrite the comprehensive construction financing package, which includes a construction-to-term loan, a tax equity bridge loan, and letters of credit. ING served as the sole coordinating lead arranger, sole bookrunner, and sole green loan coordinator, also acting as administrative agent.
This partnership advances the deployment of cutting-edge battery storage technology in Texas and demonstrates collaborative, innovative financing to accelerate the energy transition. Project Alamo City is expected to commence commercial operation in the third quarter of 2027.
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