OCI Energy and Arava Power executed a Membership Interest Purchase Agreement for the 670 MWdc La Salle Solar project in La Salle County, Texas, in May 2026. Arava Power will acquire a 50% ownership interest, while both firms will jointly finance, construct, own, and operate the utility-scale solar asset. The project is expected to begin commercial operations in 2028.

The deal shows a shift in US solar M&A from full project exits toward capital-sharing structures for advanced-stage ERCOT assets. Developers are using partial stake sales to recycle capital while retaining long-term exposure to projects located in high-growth power markets.

La Salle Solar is the third collaboration between OCI Energy and Arava Power. For Arava, an Israeli IPP and developer, the transaction expands its US platform through a single large asset. For OCI Energy, a private developer-owner-operator, the MIPA reduces funding burden while keeping operational upside.

This aligns with Enerdatics’ view that US solar buyers are prioritizing advanced, in-construction, and operational portfolios as regulatory and tax-credit risk limit early-stage M&A. Enerdatics also notes that ERCOT remains active for utility-scale solar, supported by buyer interest in assets with grid access and exposure to strong power demand.

The signal is clear: US solar M&A is not only about pipeline control. In Texas, large projects are increasingly being financed through strategic co-ownership.

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