Lightsource BP Completes Financing on 260 MW Solar Project in Texas

March 22, 2020 | Renewables | Energy Facts Staff Writer | 3min

Lightsource BP, a global solar leader, announced that it has successfully closed on a $250 million financing package for its Impact Solar project located in Lamar County, Texas, 120 miles northeast of Dallas.

The energy generated by the 260 MW project will be traded through a long-term agreement with BP.

Dev Sanyal, incoming EVP Gas and Low Carbon Energy, BP said “This project demonstrates that the competitiveness of solar energy means that power offtake structures widely and historically used for conventional generation are now gaining traction for solar energy projects. We see an exciting future from the increase in competitive renewable energy in the US power markets, and opportunities to integrate this with trading and customer capabilities.”

“Our partnership with BP enables us to bring meaningful, large-scale solar projects such as this one in Texas to fruition,” said Nick Boyle, Lightsource BP’s Group CEO. “We are continuing to support the transition towards a lower carbon energy system by successfully advancing our solar energy projects across the globe.”

Kevin Smith, Lightsource BP’s CEO of the Americas said “At Lightsource BP we’re on a mission to rapidly accelerate the growth in renewable energy, while maximizing the environmental and local community benefits of each of our solar projects. We’re looking forward to working with our partners, suppliers and the community in Lamar County to bring this responsible solar approach to our project in Texas.”