Credit score: Lightsource bp
Lightsource bp has closed on a $348 million financing bundle, set to help the development and operation of a 288 MW portfolio of two utility-scale photo voltaic tasks in Texas.
The financed tasks are the corporate’s 163 MW Starr Photo voltaic, positioned in Starr County, and 125 MW Second Division Photo voltaic challenge, positioned in Brazoria County. Each tasks are scheduled to come back on-line this 12 months.
“This deal is a crucial milestone in the direction of constructing out our rising portfolio of photo voltaic and storage tasks throughout the USA, extending our relationship with a number of top-tier financing counterparties, every of whom have partnered with Lightsource bp on earlier transactions,” says Lightsource bp’s Emilie Wangerman. “It’s additionally our first transaction to learn from the transferability provisions of the Inflation Discount Act of 2022 to monetize the tasks’ funding tax credit.”
Societe Generale served because the coordinating lead arranger and hedge supplier. ING served as a mandated lead arranger, hedge supplier, inexperienced mortgage coordinator, in addition to the executive agent and collateral agent. NatWest acted as a lender to the corporate. Lloyds Banking Group served as a mandated lead arranger and hedge supplier. Allied Irish Banks served as a mandated lead arranger.
Lightsource bp at present operates three photo voltaic tasks in Texas: the 260 MW Affect, 163 MW Elm Department and 153 MW Briar Creek Photo voltaic.
