US independent power producer (IPP) BrightNight has secured financing for its 120MW Frontier solar PV project, which is currently under development in the Washington and Marion counties of the US state of Kentucky.
Financing for the project was delivered by a number of banks, including HSBC, ING Capital and Natixis Corproate & Investment Banking. BrightNight said the project is advancing “on schedule”, and expects to start commercial operations at Frontier by autumn 2027.
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“This milestone reflects not only the strength of this project, but also our ability to consistently bring complex projects from concept to fully financed reality,” said BrightNight CEO Martin Hermann.
The project was approved by the Kentucky Public Service Commission in 2023, and BrightNight signed a build and transfer agreement with local utilities the Louisville Gas and Electric Company (LG&E) and the Kentucky Utilities Company (KU) in 2024, with the utilities to take over operation of the project once it begins commercial operation.
This follows the publication of the utilities’ 2024 Integrated Resource Plan (IRP), in which the utilities estimated that the system load on Kentucky’s grid could increase by as much as 45% by 2032, but that they would delay the development of new solar PV projects until 2035 unless the cost of generating electricity from solar PV fell enough to justify new project development.
However, in the years since, a number of solar projects in the state have advanced, including developer Savion’s project on a former coal mine in the state and BrightNight engaging local community groups for its own solar project in a former mining area.
“Our partnership with BrightNight on the Frontier project is an important step in advancing additional renewable energy resources in our generation portfolio while maintaining affordable rates and reliable service our customers expect,” said LG&E and KU president John R Crockett III.
