Lightsource reaches financial close and starts the construction of two solar projects in Australia

Lightsource bp has secured a AUD330 million (US$255.62 million) financing package and begun construction on its 107 MWdc West Wyalong and 214 MWdc Woolooga solar projects, located in New South Wales and Queensland.

Financing for the projects was secured from EDC, ING, Intesa Sanpaolo, and Westpac. Lightsource bp was advised on the projects by Macquarie Capital and King & Wood Mallesons.

Combined, West Wyalong and Woolooga will produce approximately 673GWh of renewable electricity a year, enough to power nearly 100,000 homes and offset 540,000MT tonnes of CO2 emissions.

The project is expected to be operational by the middle of 2022.