SAN ANTONIO, Sept. 22, 2025 (GLOBE NEWSWIRE) -- OCI Energy is proud to announce the successful closing of construction financing for its Project Alamo City, a flagship battery energy storage system (BESS) currently under development in Bexar County, Texas. With a planned capacity of 120 MW and with a 4-hour duration, Project Alamo City will be a significant standalone battery storage installation in Texas, designed to strengthen grid reliability and support the region's energy future.

OCI Energy selected ING to underwrite the construction financing package which includes a construction-to-term loan, a tax equity bridge loan, and letters of credit. ING served as sole coordinating lead arranger, sole bookrunner, and sole green loan coordinator, and will also act as administrative agent. The relationship between ING and OCI Energy has proven instrumental in advancing the project from concept to construction.

"Project Alamo City represents a bold step forward in our commitment to enhancing grid stability and ensuring long-term energy reliability," said Sabah Bayatli, President of OCI Energy. "It also marks OCI Energy's return as a developer-owner-operator in the project finance space, and partnering with a financial institution like ING has been instrumental in bringing this transformative project to fruition."

"The successful financing ...