Lightsource BP completes US$380m financing, mobilizes construction on 316 MW of solar in Texas

Lightsource bp has closed on a US$380 million financing package and mobilized construction on its Elm Branch and Briar Creek solar projects in Texas, both located about 40 miles south of Dallas.

Tax equity financing for the projects was secured from Bank of America. The debt for the facilities was provided by the mandated lead arrangers ING Capital LLC and Societe Generale. The balance of the equity requirements will be invested by Lightsource bp. CohnReznick Capital was engaged as the tax equity advisor for the transaction.

Construction has started with commercial operation of both projects expected by late 2021. McCarthy Building Companies was selected by Lightsource bp as their Engineering, Procurement, and Construction (EPC) Contractor for the project.