Texas Utility Signs Deal For $1B Solar Project

Law360, Los Angeles (July 23, 2012, 7:13 PM EDT) -- Texas utility CPS Energy has signed a deal with South Korean developers to build what will become the largest municipal solar installation in the U.S., a 400-megawatt project in San Antonio expected to top $1 billion, the company said Monday.

CPS, which is owned by the city, inked a 25-year power purchase and economic development agreement with OCI Solar Power, a subsidiary of South Korean chemical producer OCI Co. Ltd. When completed, the project will provide enough electricity to power 70,000 local households and make Texas...
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