Financial close achieved for 345 MW solar project in USA

Lightsource bp has closed on a US$533 million multi-project financing package and mobilized construction on its 345 megawatt (dc) Ventress Solar project located 30 miles northwest of Baton Rouge in Pointe Coupee Parish, Louisiana. The company will build, own and operate the facility and sell the clean, renewable energy it generates to McDonald’s Corporation and eBay Inc. under long-term power purchase agreements.

Ventress Solar is part of a 480 megawatt, US$533 million portfolio financing package for multiple solar projects. Debt for the portfolio was provided by HSBC Bank USA, ING Capital LLC, Intesa Sanpaolo SpA, NatWest, Societe Generale, Standard and Chartered Bank. Lightsource bp provided the balance of equity requirements.

LPL Solar will be responsible for engineering, procurement, and construction (EPC) of the photovoltaic (PV) solar plant whereas Ampirical solutions has been selected as the EPC for the project substation and the switchyard. The solar project is expected to begin commercial operation in late 2023.