Financial Closure For 480 MW Solar In US

Lightsource BP Secures Financing For Solar Projects In Louisiana & Arkansas

Financial Closure For 480 MW Solar In US

With $533 million raised for 480 MW DC capacity, Lightsource bp says it has now raised more than $2.3 billion financing over the last 2 years in the US. (Photo Credit: Lightsource bp)

  • Lightsource bp has raised $533 million portfolio financing package for 480 MW capacity in the US
  • It will go to support 345 MW DC Ventress Solar Project in Louisiana under PPA with McDonald’s and eBay
  • Another project to benefit from the financing is 135 MW DC Conway Solar under PPA with Conway Corp.

Solar project developer Lightsource bp has announced financial closure for its US projects with 480 MW DC combined capacity. The projects were contracted under long term agreements with fast food giant McDonald’s Corporation, e-commerce player eBay and utility Conway Corp.

The company has raised a $533 million portfolio financing package for multiple solar projects including 345 MW DC Ventress and 135 MW DC Conway solar projects, from HSBC Bank USA, ING Capital LLC, Intesa Sanpaolo, NatWest, Societe Generale and Standard Chartered Bank.

345 MW solar project in Louisiana

One of the 2 projects that make up the 480 MW DC capacity is the 345 MW DC Ventress Solar Project, which the company touts as the largest solar project in Louisiana. The project will be built, owned and operated by Lightsource bp in Baton Rouge in Pointe Coupee Parish.

Power generated by the facility will be sold to McDonald’s Corporation and eBay under long-term power purchase agreements (PPA) (see Lightsource BP Secures Corporate Solar PPA For 345 MW DC). Construction on site is already underway with EPC contractor LPL Solar aiming for commercial operations in late 2023. EPC services for project substation and switchyard will be provided by Ampirical Solutions.

135 MW PV facility in Arkansas

Lightsource bp will mobilize construction on its 135 MW DC Conway Solar Project that’s tied under a long-term PPA with local utility Conway Corp. The utility will use solar power to supply its customers in the city of Conway. To come up near Happy, Arkansas, the project will create around 200 construction jobs. EPC company Gibson Technical Services (GTS) will start construction on site in March 2022.

Lightsource bp counts having raised over $2.3 billion financing over the last 2 years for its projects in the US. Its overarching target is to grow its developed solar project portfolio to 25 GW by 2025 (see Lightsource BP Targeting 25 GW Solar By 2025).

About The Author

Anu Bhambhani

SENIOR NEWS EDITOR Anu is our solar news whirlwind. At TaiyangNews, she covers everything that is of importance in the world of solar power. In the past 9 years that she has been associated with TaiyangNews, she has covered over thousands of stories, and analysis pieces on markets, technology, financials, and more on a daily basis. She also hosts TaiyangNews Conferences and Webinars. Prior to joining TaiyangNews, Anu reported on sustainability, management, and education for leading print dailies in India. [email protected]

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