Lightsource bp closes tax equity deal for 481MW US solar portfolio

Facebook
Twitter
LinkedIn
Reddit
Email
The two projects will abate more than 63,000 metric tons of greenhouse gas emissions each year. Image: Lightsource bp.

Lightsource bp has closed a tax equity deal, worth US$267 million, with financial services company Wells Fargo for a 481MW solar portfolio in the US.

The investment will support the construction and operation of the portfolio, including the 346MW Oxbow solar farm project in Louisiana, with energy sales to McDonald’s and eBay, and the 135MW Conway Solar project in Arkansas, with energy sales to Conway Corp.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

According to Lightsource bp, these projects will abate more than 63,000 metric tons of greenhouse gas emissions each year. Both projects will come online this year.

“We are pleased to support Lightsource bp in its efforts to supply low-cost, emission-free solar electricity in Louisiana and Arkansas. Providing expertise and capital to important customers like Lightsource bp is part of our commitment to deploy US$500 billion in sustainable financing by 2030 to support our customers and communities as they transition to a resilient, equitable and sustainable future,” said Shane Easter, director of Wells Fargo’s Renewable Energy & Environmental Finance group.

Wells Fargo is one of the global financial institutions to support Lightsource bp projects. Other project finance lenders include HSBC Bank USA, ING Capital LLC, Societe Generale, NatWest, Intesa Sanpaolo, Standard Chartered Bank, and Allied Irish Banks.

“This investment is a great example of the positive impact that top tier financial institutions with meaningful commitments to sustainability, such as Wells Fargo, can make to help accelerate our country’s transition to a low-carbon economy and reduce the impacts of climate change that affect lives and livelihoods,” said Kevin Smith, Lightsource bp’s CEO of the Americas.

25 April 2024
5pm BST (9am PDT)
The webinar will provide the very latest trends in PV module supply and what is important when assessing product quality and reliability. How many of the imported modules for example, from Southeast Asia and India, are based on n-type TOPCon and heterojunction now? What is important to look at when assessing these new technologies’ reliability?
21 May 2024
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2025 and beyond.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA