en.Wedoany.com Reported - OCI Energy recently announced that its Alamo City Battery Energy Storage System (BESS) in Bexar County, Texas, has completed approximately $130 million in tax equity financing. The transaction was structured as a tax equity investment with clean energy investment firm Greenprint Capital.
The Alamo City BESS is a 120 MW/480 MWh battery energy storage project developed by OCI Energy under a long-term storage capacity agreement with CPS Energy, the largest municipal electric and natural gas utility in the United States.
The completion of this financing marks a critical step in the project's advancement, following the successful closing of construction financing in 2025 and the official groundbreaking last month.
Sabah Bayatli, President of OCI Energy, stated that this tax equity transaction reflects the continued progress of the Alamo City BESS and the strength of the project partnership. Securing this investment is a key component of executing the project's capital structure and demonstrates the confidence of leading financial institutions in OCI Energy and the Alamo City BESS project.
Ed Rossier, Managing Director of Investments at Greenprint Capital, said the company is proud to partner with OCI Energy to advance the Alamo City BESS project, which promotes the development of critical energy storage infrastructure in the ERCOT region. He noted that this transaction is among the first investments utilizing a technology-neutral clean electricity investment credit structure, highlighting the company's focus on expanding tax-efficient capital solutions to fund dispatchable energy resources. He expressed confidence in OCI's execution capabilities and the long-term value and reliability of battery storage on the grid.
The Alamo City BESS is designed to provide flexible, dispatchable energy capable of powering approximately 30,000 homes for up to four hours during peak demand periods. Its four-hour discharge capability makes it one of the few long-duration energy storage assets in the ERCOT market, enabling sustained energy delivery when it is most needed.
The project is supported by an experienced consortium of industry partners, including ING, which provided construction financing; LG Energy Solution Vertech, serving as the battery technology provider; and Elgin Power Solutions, acting as the EPC contractor.
The Alamo City BESS is expected to commence commercial operations in 2027.
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