Lightsource BP has concluded a $380m financing and begun construction of 316MW of solar in Texas.
The projects are the 163MW Elm Branch and the 153MW Briar Creek and commercial operation of both projects is expected by late 2021.
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 including ING Capital.
The balance of the equity requirements will be invested by Lightsource BP.
CohnReznick Capital was engaged as the tax equity advisor for the transaction.
Lightsource BP CEO Kevin Smith said: “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.
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