Lightsource bp Raises Funding for Louisiana, Indiana Solar Projects

Researched by Industrial Info Resources (Sugar Land, Texas)--Renewable energy developer Lightsource bp (London, England) late last week announced that it has completed a $460 million financing package for two solar power projects in Louisiana and Indiana.

Among the projects securing financing is Lightsource bp's planned Prairie Ronde solar farm near Opelousas, Louisiana. The facility will feature solar panels manufactured by First Solar Incorporated (NASDAQ:FSLR) (Tempe, Arizona) and will have a nameplate generating capacity of 180 megawatts (MW). Power from the facility is contracted under a long-term power purchase agreement (PPA) with McDonald's Corporation (NYSE:MCD) (Chicago, Illinois). Construction on the facility is expected to begin next year. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for more information.

The Prairie Ronde project is not the only Louisiana project for Lightsource bp. The company is at work on a larger solar farm near Ventress, about 30 miles northwest of Baton Rouge. Construction on the facility kicked off in late 2021. The solar farm will use First Solar panels to achieve a nameplate generating capacity of 345 MW. Engineering, procurement and construction contractor LPL Solar LLC (Fort Lauderdale, Florida) is expected to wrap up construction later this year. Subscribers can click here for more details.

The second Lightsource bp project to secure funding recently is the Honeysuckle solar farm near New Carlisle, Indiana. Unlike the Prairie Ronde facility, construction on the Honeysuckle solar farm already is underway, having commenced late last year. This facility also will use First Solar panels to generate about 188 MW. Construction is on track for completion early next year. Subscribers can learn more by viewing the project report.

Lightsource bp has other potential solar projects in store for Indiana. Plans are on the table for a 315-MW solar installation near Auburn, in the northeast corner of the state. The Peony facility remains in the very early planning stages, with construction not expected to start for a few years. Also on the books is the proposed Thalassa solar farm in DeKalb County. This facility would use more than 309,000 bifacial solar panels to provide nameplate generation of 150 MW. Construction could begin in 2025. Subscribers can click here for more details on the Peony and Thalassa plants.

The Southwest market region, which includes Louisiana and also Texas, Arkansas and Oklahoma, represents the geography where Lightsource bp is most active in the U.S., accounting for about $2.5 billion worth of the company's active projects. In April, the company secured funding for its Driver solar project near Osceola, Arkansas. The project is being built on a build-transfer agreement with Entergy Corporation (NYSE:ETR) (New Orleans, Louisiana) division Entergy Arkansas (Little Rock, Arkansas).

Construction of the solar farm could begin later this year, putting it on track for completion by the end of 2024. The facility will have a nameplate generating capacity of 250 megawatts (MW) and will be the largest solar facility in Arkansas. Lightsource bp will be responsible for the construction of the solar farm, and upon completion, Entergy Arkansas will take on the ownership and operations. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for more information.

Subscribers to Industrial Info's GMI Power Database can click here for a look at all reports for projects discussed in this article and click here for the related profiles.

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