Courtesy of Lightsource bp
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. The McCarthy team was selected for both their track record in successfully building large-scale solar projects and their commitment to recruiting and hiring from the local workforce.
“This transaction is a demonstration of the low risk and stable yield opportunities that renewable energy projects offer to investors, the quality and bankability of our developed assets, and the confidence that top tier investors have in Lightsource bp” said Kevin Smith, CEO of the Americas, Lightsource bp. “Despite challenges posed with COVID-19, Lightsource bp reached financial close on over $1.2 billion in transactions in the US in 2020, a substantial increase from 2019.”
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McCarthy Building Companies Inc., one of the nation’s oldest and largest privately held construction firms, has promoted Chris Fletcher to project director. Based in the Henderson, Nev. office, Fletcher brings more than 15 years of
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Lightsource bp Completes $380m Financing and Mobilizes Construction on 316 Megawatts of Solar in Texas
January 26, 2021 GMT
DALLAS (BUSINESS WIRE) Jan 26, 2021
Lightsource bp has successfully closed on a $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 following mandated lead arrangers:
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ING Capital LLC, a financial services firm offering a full array of wholesale financial lending products and advisory services to its corporate and institutional clients. ING Capital LLC is an indirect U.S. subsidiary of ING Bank NV, part of ING Group NV (NYSE: ING), a global financial institution.
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Lightsource bp has successfully closed on a US$380 million financing package and mobilised construction on its Elm Branch and Briar Creek solar projects in Texas, both located about 40 miles south of Dallas, US.
Tax equity financing for the projects was secured from Bank of America. The debt for the facilities was provided by the following mandated lead arrangers:
ING Capital LLC, a financial services firm offering a full array of wholesale financial lending products and advisory services to its corporate and institutional clients. ING Capital LLC is an indirect US subsidiary of ING Bank NV, part of ING Group NV, a global financial institution.