Lightsource BP has secured financing for its first Australian utility-scale solar project. The developer has agreed on a senior debt facility with Dutch bank ING and Export Development Canada (EDC) to fund a 200 MW project, located in New South Wales. The National Australian Bank (NAB) will act as facility agent and security trustee on behalf of the two lenders.
The solar project is the largest single plant to be financed by Lightsource BP to date and one of the first to use bifacial solar panels at the utility-scale. Construction is due to start shortly and will showcase Canadian Solar bifacial panels, alongside Array Technologies single-axis solar trackers.
Most of the output is contracted by Snowy Hydro via a 15-year power purchase agreement.
With an installed capacity of 200 MW, the solar farm is expected to produce approximately 435,000 MWh of clean electricity a year, enough energy to power approximately 72,500 homes.
