Lightsource BP completes financing for 125 MW solar projects in the US
Lightsource BP has completed over US$140 million in funding, including the tax equity investment and long-term debt financing for a portfolio of seven utility-scale solar photovoltaic (PV) projects across the US.
Lightsource BP secured tax equity financing for the 125 megawatt (MW) portfolio from Rockwood Group, through its partnership with Fortune 250 Guardian Life Insurance Company of America. National Westminster Bank PLC (NatWest) is the senior project finance debt lender. The balance of the equity requirements will be invested by Lightsource BP. CohnReznick Capital acted as Lightsource BP’s advisor for the deal.
The portfolio includes the largest solar project in Pennsylvania along with projects across the states of Kansas, California, and New Mexico:
- Whitetail Solar 1, 2, and 3 projects in Franklin County, Pennsylvania with power sales to Penn State University.
- Johnson Corner Solar project in Stanton County, Kansas with power sales to Mid-Kansas Electric Company.
- Wildflower Solar project in Sacramento County, California with power sales to the Sacramento Municipal Utility District.
- Grants Solar and Bluewater Solar projects in Cibola County, New Mexico with power sales to the Continental Divide Electric Cooperative.
