Lightsource BP closes on 345MW Louisiana solar site renews.biz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from renews.biz Daily Mail and Mail on Sunday newspapers.
By Adriano Marchese Lightsource BP said Tuesday that it has completed a $380 million financing package and has begun construction on two solar projects in Texas. The developer and manager of solar energy projects which is 50% owned by oil major BP PLC said that it has mobilized construction on its 163 megawatt Elm Branch and 153 megawatt Briar Creek solar projects, located near Dallas, Texas. 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, the company s Chief Executive of the Americas Kevin Smith said.
Lightsource BP has completed construction and grid-connected its 260MW Impact solar farm near Dallas in the US state of Texas.
The project represents an investment of $250m, with 320 workers on site during construction of which 84% were local hires, the company said.
BP senior vice president, gas & power trading Americas Orlando Alvarez said: “The Impact solar project in Texas is one of the many ways we are turning our net zero ambition into action.
“This is a great example of how we are increasing our low carbon investment while leveraging bp’s expertise in the energy markets by trading the electricity generated from the project.”