Financing Boosts Texas Solar Capacity
Lightsource bp has secured a significant $348 million financing package for two utility-scale solar projects in Texas, strengthening the state’s solar capacity and contributing to renewable energy growth.
Construction and Job Creation Underway
Construction has commenced for the 288 MWdc portfolio, consisting of the 163 MW Starr Solar project and the 125 MW Second Division Solar project. This initiative creates approximately 400 jobs, supporting the local economy during the construction phase.
Key Financing Partnerships and Sustainability Milestones
The financing involves strategic partnerships with Societe Generale, ING, NatWest, Lloyds Banking Group, and Allied Irish Banks (AIB). This milestone also marks Lightsource bp’s commitment to sustainability, utilizing the Inflation Reduction Act of 2022 for project investment tax credits.
Operational Impact on Texas Electric Grid
Upon completion, the Starr and Second Division Solar projects will enhance the diversification of the Texas electric grid, promoting energy security. The operational track record of Lightsource bp’s existing Texas projects underscores the importance of a diversified energy approach during extreme weather events.
Source：businesswire.com
