Lightsource bp Closes Financing On 250 MW US Solar Project

Lightsource bp has closed on a $327 million financing package and mobilized construction on the 313 MWdc (250 MWac) Driver Solar project located in Mississippi County, Arkansas. Lightsource bp completed development, permitted and financed the project and will construct the facility under a build-transfer agreement with Entergy Arkansas announced last year.

Lightsource bp said in its statement that upon completion, at 313 MW Driver Solar will be the largest solar farm in Entergy Arkansas’ portfolio as well as the largest in the state. The green energy so generated will be enough energy to power more than 50,000 homes.

Construction has started with commercial operation expected by late 2024. Moss Construction was selected by Lightsource bp as their EPC contractor that will install over 650,000 solar panels manufactured by First Solar. The smart solar trackers have been sourced from Array Technologies.

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Laura Landreaux, president and CEO of Entergy Arkansas, said that the Driver Solar is the result of hard work and a strong partnership between Lightsource bp and Entergy Arkansas. “Driver Solar plays a big role in providing savings to all customers and supporting businesses like US Steel as they continue to advance their own clean energy future. These partnerships are helping to drive incredible growth in our state and will benefit our communities for decades to come.”

Located adjacent to both US Steel’s Big River Steel facility and their recently announced $3 billion expansion, the solar project will help the steel company produce advanced sustainable steel products for their customers.

Over the last four years, the Lightsource bp has raised over $3.7 billion in financing for projects in ten states across the US with multiple world-class financing partners.  Debt for the Driver Solar project was provided by the multiple lenders, namely, HSBC Bank USA, BNP Paribas, Societe Generale and Sumitomo Mitsui Banking Corporation (SMBC) with the balance of equity requirements supported by Lightsource bp.

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Once constructed, ownership of the project will transfer to Entergy Arkansas under the build-transfer agreement.