“OCI Solar Power seeks to sell Alamo 6 solar farm to Warren Buffett-owned company”
San Antonio-based solar developer OCI Solar Power is seeking state approval to sell its Alamo 6 solar farm to a subsidiary of Warren Buffett’s multinational holding company Berkshire Hathaway.
A sale price has not been disclosed but OCI Solar Power officials confirmed that the company signed a purchase agreement to sell the West Texas solar farm. Located in Pecos County, Alamo 6 remains under construction but once complete it will supply 110.2 megawatts of electricity to San Antonio’s municipally-owned utility company CPS Energy.
Filings with the Public Utilities Commission of Texas show that a deal has been in the works since October with OCI Solar Power entering into a purchase agreement to sell 100 percent of the solar farm to Alamo 6 Holdings LLC.
In a Dec. 1 letter to the Public Utilities Commission, attorney Katherine Coleman with Austin-based law firm Thompson & Knight LLP wrote on behalf of Alamo 6 Holdings LLC stating that the company is seeking to close the transaction as soon as regulatory approvals are received.
“Due to the time-sensitive nature of the transaction, Alamo 6 Solar Holdings LLC respectfully requests that this matter be posted for considering by the commission at its Dec. 16, 2016 open meeting,” Coleman wrote.