Lightsource bp has secured a $348 million financing package for two Texas solar projects, Starr (163 MW) and Second Division (125 MW). The construction, generating 400 jobs, is set for completion in 2024. The deal utilized the Inflation Reduction Act’s provisions for investment tax credits. Notably, it’s the first US renewable energy project finance transaction with transferability bridge and equity partner bridge loans. Lightsource bp has raised $4.6 billion since 2019, and key lenders include Societe Generale, ING, NatWest, Lloyds Bank, and Allied Irish Banks, fostering Texas energy security.
Lightsource bp secures $348M financing for Texas solar projects
Among BP’s operational projects in Texas, the 260 MW Impact, 163 MW Elm Branch, and 153 MW Briar Creek Solar projects continue to thrive as exemplary renewable energy sources.
R3 Renewables aims to power 850,000 homes with solar and battery storage across the Midwest. (Image Source: RWE)
The INR1,080 crore infrastructure projects are enhancing Ladakh’s power supply under the Revamped Distribution Sector Scheme. (Image Credit/Source: Pixabay/Pexels)
Solar arrays on tracking racks to maximize output at Mink Solar’s 140 MW project in Ohio. (Image Credit/Source:Kelly/Pexels)
The company currently operates 50 MW of solar capacity and has 283 MW in development in the Valencian region. (Image Source: Castillo Engineering)