Baton Rouge, LA – Lightsource bp has successfully closed on a $533 million multi-project financing package and mobilized construction on its 345 megawatt (dc) Ventress Solar project located 30 miles northwest of Baton Rouge in Pointe Coupee Parish. Lightsource bp will build, own and operate the facility and sell the clean, renewable energy it generates to McDonald’s Corporation and eBay Inc. under long-term power purchase agreements.
Emma Cox, Global Renewable Energy Lead at McDonald’s: “This unique partnership between Lightsource bp, eBay and McDonald’s is an example of how large brands can come together to drive meaningful impact at a local level. We’re thrilled to see our values come to life in a project like Ventress Solar and realize this important next step toward it coming online.”
Ventress Solar is part of a 480 megawatt, $533 million portfolio financing package for multiple solar projects. Debt for the portfolio was provided by the following Mandated Lead Arrangers, with the balance of equity requirements invested and supported by Lightsource bp.
In just two years, the Lightsource bp team has raised over $2.3 billion in financing for its projects in ten states across the US.
Kevin Smith, CEO of the Americas, Lightsource bp: “Beyond improving the health and energy security of communities across America, large-scale solar projects help strengthen local economies. As the owner and operator of the Ventress solar farm, we look forward to bringing economic benefits to Pointe Coupee Parish, along with fostering long-term community partnerships.”
Construction of the Ventress solar farm will:
Construction has started, with full commercial operation expected in late 2023. LPL Solar has been selected by Lightsource bp as the Engineering, Procurement, and Construction (EPC) contractor for the photovoltaic (PV) solar plant. Ampirical Solutions, headquartered in Louisiana, has been selected as the EPC for the project substation and the switchyard.
Lightsource bp is a global leader in the development and management of solar energy projects, and a 50:50 joint venture with bp. Our purpose is to deliver affordable and sustainable solar power for businesses and communities around the world. Our team includes over 600 industry specialists, working across 16 countries. We provide full scope development for our projects, from initial site selection, financing and permitting through to long-term management of solar projects and power sales to our clients. Lightsource bp in the U.S. is headquartered in San Francisco with development offices in Denver, Philadelphia, Atlanta, and Austin. For more information visit lightsourcebp.com, follow us on Twitter @lightsourceBP and Instagram @lightsourcebp or view our LinkedIn page.