OCI Enterprises Acquires CornerStone Power Development

OCI Enterprises, an Atlanta-based chemical and energy holding company owned by South Korea-based OCI Co. Ltd., has acquired CornerStone Power Development, a utility-scale solar power plant development company based in Chicago, as part of its new OCI Energy division, which is being created to further the company's global focus on green energy.

CornerStone Power Development, which currently has 12 projects totaling more than 130 MW in development in the U.S. and Ontario, will become OCI Solar Power.

The company expects to have 700 MW under development by 2013. CornerStone's management team will remain in place at OCI Solar Power.

SOURCE: OCI Enterprises

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