OCI President Lee Woo-hyun.

OCI has successfully wrapped up the “Alamo Project” to build photovoltaic power plants totaling 400MW in San Antonio, Texas, concluding its four-year journey. It was in 2012 that OCI entered the global photovoltaic power plant business industry in earnest by winning a combined 400MW-class massive photovoltaic power project in Texas. 

The Alamos Project involved photovoltaic power plant projects in seven phases, which were conducted between 2012 and 2016. OCI dedicated and disposed of the Alamo 6 Photovoltaic Power Plant to successfully wrap up a four-year project.

OCI President Lee Woo-hyun said, “With the successful disposal of the Alamos 6, we’ve managed to successfully wrap up the largest-ever photovoltaic power plant project in the United States.” Finances from the disposal of the photovoltaic power plant would contribute to strengthening OCI’s financial soundness, and OCI’s successful experiences will be a great boon in exploring new markets, he added. 

The Alamos Project took on great significance since OCI ― which has entered the new and renewal energy field with the nation’s first development of polysilicon, a core component for solar battery ― became the first Korean company to explore the North American photovoltaic power market. The project has served as an opportunity for OCI to demonstrate its capabilities to carry out businesses, paving the way for a full-fledged era of photovoltaic power. 

While implementing the project, OCI gained recognition for its development capabilities by landing an additional contract to supply 50MW of photovoltaic power.

The Alamo Project is named after the Alamo Mission in San Antonio, founded in the 18th century as a Roman Catholic mission and fortress compound. It was also the site of the Battle of the Alamo in 1836. The name is meant to represent a fresh start with new and renewal energies, departing from fossil fuels. In the meanwhile, OCI disposing of the equivalent of 317 MW photovoltaic of power plants,  except a 20 percent stake in Alamo 1, 2 and 4. Proceeds from the latest sales were classified into sales, and borrowings into operating profit, so it is likely to contribute to OCI’s improving financial structure. 

OCI has successfully concluded the “Alamo Project” to build photovoltaic power plants totaling 400MW in San Antonio, Texas, wrapping up its four-year journey. (Photos: OCI)

About OCI

OCI’s focus on the photovoltaic power business is designed to create demand for polysilicon, OCI’s mainstay product, and stabilize its monetary flows, analysts said. But the photovoltaic power business is accompanied by huge investments at an early stage, so OCI’s disposal of Alamo 7 may be construed a step towards securing money for implementing additional photovoltaic power projects, they said. 

OCI also operates photovoltaic power plants in Xizou, China. The company is constructing photovoltaic power plants in Hongzou, Wuxi, and Yantai. OCI is trying to tap the Indian photovoltaic power market. In Korea, the company built and sold four 17-megawatt photovoltaic power plants. 

OCI, which began to produce polysilicon, a material used in the production of photovoltaic power panels, has an annual production capacity of 52,000 tons, the third largest in the world. 

OCI Forges Alliance with Bridgestone to Generate Photovoltaic Power

OCI has teamed up with Bridgestone, the world’s largest tire and rubber company, to expand its presence in the Chinese photovoltaic power generation market. 

OCI signed a deal to install a 4.6MW photovoltaic power plant on the rooftop of the Bridgestone plant in Wuxi, Jiangsu, and supply power for the next 25 years. Under the agreement, OCI will supply power from the photovoltaic plant to Bridgestone on a gradual basis. The deal is forecast to bring $19 million (some 22.3 billion won) in revenues to OCI during the 25-year period. 

Earlier, OCI singed an MOU with the Wuxi municipal government on the development of photovoltaic power plants with a combined capacity of 200MW. OCI’s project with Bridgestone is the first one done under the agreement with the Wuxi municipal government. Bridgestone ranked first in the global tire market in terms of sales as of 2014. The company supplies tires from the Wuxi plant to Japanese and other global automakers, including Honda, Volkswagen, GM and Ford.