Lightsource BP announced it closed financing and broke grounds on two massive US solar projects. Altogether, these projects will have more than 460-megawatts of capacity once done.
Firstly, the company closed financing for the two projects totaling $376 million. The multi-project includes the 293 MW Sun Mountain project, to be located in Colorado; and the 173 MW Bellflower solar project that will begin construction about 40 miles east of Indianapolis in Henry and Rush Counties, Indiana.
Moreover, according to the company, the Sun Mountain project has not yet a defined time schedule; however, the Bellflower project will finalize construction in 2022. In addition, both projects already have power purchase agreements in place. Sun Mountain’s PPA is with Xcel Energy.
Furthermore, this contract will support Xcel Energy’s plan to deliver 55% renewable energy to the grid; and reduce carbon emissions by 60% by 2026. It will also support Colorado’s clean energy goal to reduce emissions statewide by 26% by 2025; 50% by 2030, and 90% by 2050.
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Lightsource BP to create jobs for the construction of the projects
Additionally, the Sun Mountain project will create 300 jobs during the 12-to-14-month construction period. Those jobs will come from mainly local workforce. About 100 of the jobs will come from the nearby project Bighorn Solar. The remaining 200 jobs will come from the local community.
On the other hand, Bellflower has a virtual PPA in place with Verizon Communications, furthering Verizon’s goal of being carbon neutral in its operations by 2035. It will also create around 200 jobs during its construction.
Kevin Smith, CEO of the Americas, Lightsource bp, said about the Sun Mountain project. “his project financing transaction is a demonstration of the continued confidence that top-tier investors have in Lightsource bp, and the quality and bankability of our solar assets. Our commitment to responsible solar development delivers further value and contributes to the environmental, social, and governance (ESG) goals of Lightsource bp and our investment partners.”
Finally, about the Bellflower project, he remarked. “Our commitment to responsible solar development, such as the research we’re doing at Bellflower on co-locating pollinator habitat with solar, further multiplies solar’s contribution to preserving our planet for future generations.”
