Lightsource bp, a San Francisco, CA-based solar energy and energy storage company, completed a $348M financing package.
The financing will support the construction and operation of a 288-megawatt (MWdc) portfolio comprised of two utility-scale solar projects in Texas:
- 163MW Starr Solar project located in Starr County, Texas.
- 125MW Second Division Solar project located in Brazoria County, Texas.
Construction of both solar farms is underway, creating a combined 400 jobs during construction, with both projects scheduled to come online in 2024.
The team has raised over $4.6 billion of third-party capital since 2019, supporting the commercialization of their U.S. renewable energy projects. The following Lenders arranged and provided the debt facilities related to this financing:
- Societe Generale served as the Coordinating Lead Arranger and Hedge Provider.
- ING (ING Capital LLC and affiliates) served as a Mandated Lead Arranger, Hedge Provider, Green Loan Coordinator, as well as the Administrative Agent and Collateral Agent.
- NatWest, a leading UK-based financial services group with a growing multibillion U.S. Project Finance franchise and long-standing partner of Lightsource bp globally.
- Lloyds Banking Group (Lloyds Bank) served as a Mandated Lead Arranger and Hedge Provider.
- Allied Irish Banks (AIB) served as a Mandated Lead Arranger.
Lightsource bp specializes in the development and management of solar energy and energy storage. The company is headquartered in San Francisco with development offices in Denver, Austin and Philadelphia. Since 2019, the team has brought into operation or initiated construction on more than 3.2 gigawatts of U.S solar projects across 11 states in America with capital costs of nearly $4 billion. Their team includes more than 1,200 industry experts, working in 19 global regions, providing development for projects, from initial site selection, financing and permitting to long-term management of solar projects and energy sales to their customers.
The company has development offices in Denver, Austin and Philadelphia.
FinSMES
22/02/2024