CornerStone Power currently has 12 projects totalling more than 130MW in development in the US and Ontario, Canada.

CornerStone Power will become OCI Solar Power and will be a part of the new OCI Energy division, which is being created to diversify and enhance business lines and further the company’s focus on green energy.

The company expects to have 700MW under development by 2013.

Korea-based OCI Company, OCI’s parent company, is a green energy company engaged in producing high-purity polysilicon, a key raw material in solar PV panels.

OCI Enterprises is a chemical and energy holding company that serves OCI Chemical and OCI Energy divisions.