{"id":19322,"date":"2021-01-07T15:00:52","date_gmt":"2021-01-07T15:00:52","guid":{"rendered":"https:\/\/www.lightsourcebp.com\/news\/new-power-contract-signed-with-allianz-global-corporate-specialty-for-153mw-solar-project-in-texas\/"},"modified":"2025-12-19T17:50:51","modified_gmt":"2025-12-19T17:50:51","slug":"new-power-contract-signed-with-allianz-global-corporate-specialty-for-153mw-solar-project-in-texas","status":"publish","type":"post","link":"https:\/\/sandbox.lightsourcebp.com\/us\/news\/new-power-contract-signed-with-allianz-global-corporate-specialty-for-153mw-solar-project-in-texas\/","title":{"rendered":"New power contract signed with Allianz Global Corporate &#038; Specialty for 153MW solar project in Texas"},"content":{"rendered":"<section class=\"block-page-title bg-color-white\">\n  <div class=\"pt-60 pt-lg-100\"><\/div>\n\n  <div class=\"container\">\n    <div class=\"row\">\n      <div class=\"col-12\">\n                <h1 class=\"fg-color-gradient\">New power contract signed with Allianz Global Corporate &amp; Specialty for 153MW solar project in Texas<\/h1>\n      <\/div>\n    <\/div>\n  <\/div>\n\n  <div class=\"pt-60 pt-lg-100\"><\/div>\n<\/section>\n  \n\n\n<section class=\"banner-single position-relative\">\n  <div class=\"container-fluid\">\n    <div class=\"row\">\n      <div class=\"col-12 px-0\">\n                <div class=\"position-relative w-100 h-100 aspect-ratio-banner object-fit-cover\">\n          <picture>\n                    <source srcset=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29093518\/New-power-contract-signed-with-Allianz-Global-Corporate-Specialty-for-153MW-solar-project-in-Texas-450x188.jpg, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29093518\/New-power-contract-signed-with-Allianz-Global-Corporate-Specialty-for-153MW-solar-project-in-Texas-1000x417.jpg 2x\"\n                          media=\"(max-width: 575px)\">\n                    <source srcset=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29093518\/New-power-contract-signed-with-Allianz-Global-Corporate-Specialty-for-153MW-solar-project-in-Texas-1000x417.jpg, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29093518\/New-power-contract-signed-with-Allianz-Global-Corporate-Specialty-for-153MW-solar-project-in-Texas.jpg 2x\"\n                          media=\"(min-width: 576px) and (max-width: 991px)\">\n                    <source srcset=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29093518\/New-power-contract-signed-with-Allianz-Global-Corporate-Specialty-for-153MW-solar-project-in-Texas.jpg, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29093518\/New-power-contract-signed-with-Allianz-Global-Corporate-Specialty-for-153MW-solar-project-in-Texas.jpg 2x\"\n                          media=\"(min-width: 992px)\">\n                    <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29093518\/New-power-contract-signed-with-Allianz-Global-Corporate-Specialty-for-153MW-solar-project-in-Texas.jpg\" alt=\"\"\n                       srcset=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29093518\/New-power-contract-signed-with-Allianz-Global-Corporate-Specialty-for-153MW-solar-project-in-Texas.jpg 2x\"\n                       sizes=\"auto, 100vw\"\n                       class=\"position-absolute w-100 h-100 left-0 top-0 object-fit-cover\"\n                       width=\"1920\"\n                       height=\"800\">\n                <\/picture>\n        <\/div>\n              <\/div>\n    <\/div>\n  <\/div>\n<\/section>\n\n\n<section class=\"text align block_acf-block-695ee8f45c246 block bg-color-white position-relative z-1 overflow-hidden\">\n    <div class=\"pt-60 pt-lg-100\"><\/div>\n\n  \n  <div class=\"container \">\n    <div class=\"row\">\n      <div class=\"col-12\">\n        <span class=\"rich-text standard-text fg-color-navy\">\n          <ul>\n<li>Innovative contract structure was developed in partnership with Nephila Climate<\/li>\n<li>Briar Creek solar farm to generate enough clean and economic electricity to power 27,270 homes<\/li>\n<\/ul>\n<p><strong>Houston, TX <\/strong>(January 7, 2021) \u2013 Lightsource bp has secured a proxy generation power purchase agreement (pgPPA) with the Capital Solutions unit of Allianz Global Corporate &amp; Specialty (AGCS), in partnership with Nephila Climate. The pgPPA is for electricity generated by Lightsource bp\u2019s 153 megawatt Briar Creek solar farm, located in Navarro County Texas.<\/p>\n<p>A pgPPA is an innovative renewable energy contract structure intended to manage weather related risk. A pgPPA is similar to a virtual PPA, except it settles energy on a proxy generation index rather than the metered generation. Proxy generation is an hourly index that specifies the volume of energy that a project would have produced if it had been operated as specified by the developer or owner. REsurety, Inc. provided analysis in support of the transaction and will serve as the calculation agent for the life of the contract.<\/p>\n<p>\u201cAGCS is excited to collaborate with Lightsource bp on this novel renewable energy hedge structure and risk management tool,\u201d said Vijay Suchdev, Managing Director at AGCS. \u201cWe are committed to working with our partners to achieve their sustainability goals and to supporting the long-term global growth of renewable energy.\u201d<\/p>\n<p>The Briar Creek solar farm, located about 40 miles south of Dallas, is expected to start commercial operation at the end of 2021.<\/p>\n<p>\u201cThis deal is a great example of the evolution of renewable energy products here in the US,\u201d said Kevin Smith, CEO of Lightsource bp in the Americas. \u201cInnovative power contract structures such as virtual and proxy generation PPA\u2019s are valuable tools we can leverage to meet the needs of our corporate partners, manage risk, and continue to finance and build new solar projects for our low carbon future.\u201d<\/p>\n<p>\u201cNephila Climate is pleased to be playing a part in the realization of the Briar Creek solar farm, and Lightsource bp\u2019s mission to deliver affordable and sustainable solar power in the US and around the world,\u201d said Ariane West, Director of Structured Finance, Nephila Climate. \u201cRisk transfer solutions designed to meet the needs of the renewable energy market are essential to support investment and financing of infrastructure on the scale needed to achieve zero carbon targets.\u00a0 We are proud to be working with market leading partners to create those solutions.\u201d<\/p>\n<p>The solar project will also deliver local economic benefits beyond clean and economical electricity for the Dallas Fort Worth area. The project:<\/p>\n<ul>\n<li>Is expected to generate $19.7 million in property tax revenue to Navarro County over its life, benefitting local schools and other community public services<\/li>\n<li>Will create about 250 jobs during construction, with local labor and service requirements included in construction contracts<\/li>\n<li>Brings $152 million of private capital investment in new, local energy infrastructure for Texas<\/li>\n<\/ul>\n\n        <\/span>\n      <\/div>\n    <\/div>\n  <\/div>\n\n  <div class=\"pt-60 pt-lg-30\"><\/div>\n<\/section>\n\n\n<section class=\"multi-column-cards align block_acf-block-6945907b8822b block bg-color-orange-3-percent\">\n  <div class=\"pt-60 pt-lg-100\"><\/div>\n\n  <div class=\"container\">\n    <div class=\"row\">\n      <div class=\"col-12\">\n                <h3 class=\"mb-35\">Related news <\/h3>\n      <\/div>\n    <\/div>\n    <div class=\"row\">\n                        <div class=\"col-12 col-lg-4 mb-30\">\n  <div class=\"multi-column-cards__image-container h-300px h-lg-250px\">\n    <a href=\"https:\/\/sandbox.lightsourcebp.com\/us\/news\/lightsource-bp-and-toyota-enter-into-a-power-contract-in-texas\/\" class=\"d-block w-100 h-100\">\n      <picture><source srcset=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2026\/01\/13174706\/DJI_20250805160842_0097_D-1-1-scaled-aspect-ratio-315-195-1200x743.jpg 1200w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2026\/01\/13174706\/DJI_20250805160842_0097_D-1-1-scaled-aspect-ratio-315-195-300x186.jpg 300w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2026\/01\/13174706\/DJI_20250805160842_0097_D-1-1-scaled-aspect-ratio-315-195-1024x634.jpg 1024w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2026\/01\/13174706\/DJI_20250805160842_0097_D-1-1-scaled-aspect-ratio-315-195-80x50.jpg 80w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2026\/01\/13174706\/DJI_20250805160842_0097_D-1-1-scaled-aspect-ratio-315-195-150x93.jpg 150w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2026\/01\/13174706\/DJI_20250805160842_0097_D-1-1-scaled-aspect-ratio-315-195-450x279.jpg 450w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2026\/01\/13174706\/DJI_20250805160842_0097_D-1-1-scaled-aspect-ratio-315-195-767x475.jpg 767w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2026\/01\/13174706\/DJI_20250805160842_0097_D-1-1-scaled-aspect-ratio-315-195-1000x619.jpg 1000w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2026\/01\/13174706\/DJI_20250805160842_0097_D-1-1-scaled-aspect-ratio-315-195-1600x991.jpg 1600w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2026\/01\/13174706\/DJI_20250805160842_0097_D-1-1-scaled-aspect-ratio-315-195-1920x1189.jpg 1920w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2026\/01\/13174706\/DJI_20250805160842_0097_D-1-1-scaled-aspect-ratio-315-195.jpg 1940w\" sizes=\"\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2026\/01\/13174706\/DJI_20250805160842_0097_D-1-1-scaled-aspect-ratio-315-195-1200x743.jpg\" alt=\"\" width=\"1200\" height=\"743\" class=\"w-100 h-100 object-fit-cover\"><\/picture>\n    <\/a>\n  <\/div>\n      <p class=\"mt-20 mb-10 font-size-paragraph-small\">13 Jan, 2026<\/p>\n    <a class=\"text-decoration-none text-decoration-sm-underline-hover\" href=\"https:\/\/sandbox.lightsourcebp.com\/us\/news\/lightsource-bp-and-toyota-enter-into-a-power-contract-in-texas\/\">\n    <h5 class=\"mb-15 fg-color-navy\">Lightsource bp and Toyota enter into a power contract in Texas<\/h5>\n  <\/a>\n      <p class=\"mb-15 line-height-level-6\">Lightsource bp and Toyota Motor North America have finalized a virtual power purchase agreement for energy from the 231MW Jones City 2 solar farm in Texas.<\/p>\n    <p><a href=\"https:\/\/sandbox.lightsourcebp.com\/us\/news\/lightsource-bp-and-toyota-enter-into-a-power-contract-in-texas\/\">Read Story <span class=\"ml-10\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"8\" height=\"14\" fill=\"none\"><path stroke=\"currentColor\" stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M1 13l6-6-6-6\"\/><\/svg><\/span><\/a><\/p>\n<\/div>\n                  <div class=\"col-12 col-lg-4 mb-30\">\n  <div class=\"multi-column-cards__image-container h-300px h-lg-250px\">\n    <a href=\"https:\/\/sandbox.lightsourcebp.com\/us\/news\/lightsource-bp-and-pinnacle-financial-partners-announce-97-9m-tax-equity-deal-for-peacock-solar\/\" class=\"d-block w-100 h-100\">\n      <picture><source srcset=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14183109\/BPVC1093-Construction-Underway-At-Peacock-Solar-Farm-Texas_edit_m330646-1-aspect-ratio-315-195.png 703w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14183109\/BPVC1093-Construction-Underway-At-Peacock-Solar-Farm-Texas_edit_m330646-1-aspect-ratio-315-195-300x186.png 300w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14183109\/BPVC1093-Construction-Underway-At-Peacock-Solar-Farm-Texas_edit_m330646-1-aspect-ratio-315-195-80x50.png 80w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14183109\/BPVC1093-Construction-Underway-At-Peacock-Solar-Farm-Texas_edit_m330646-1-aspect-ratio-315-195-150x93.png 150w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14183109\/BPVC1093-Construction-Underway-At-Peacock-Solar-Farm-Texas_edit_m330646-1-aspect-ratio-315-195-450x279.png 450w\" sizes=\"\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14183109\/BPVC1093-Construction-Underway-At-Peacock-Solar-Farm-Texas_edit_m330646-1-aspect-ratio-315-195.png\" alt=\"\" width=\"703\" height=\"436\" class=\"w-100 h-100 object-fit-cover\"><\/picture>\n    <\/a>\n  <\/div>\n      <p class=\"mt-20 mb-10 font-size-paragraph-small\">14 Oct, 2025<\/p>\n    <a class=\"text-decoration-none text-decoration-sm-underline-hover\" href=\"https:\/\/sandbox.lightsourcebp.com\/us\/news\/lightsource-bp-and-pinnacle-financial-partners-announce-97-9m-tax-equity-deal-for-peacock-solar\/\">\n    <h5 class=\"mb-15 fg-color-navy\">Lightsource bp and Pinnacle Financial Partners announce $97.9M tax equity deal for Peacock Solar<\/h5>\n  <\/a>\n      <p class=\"mb-15 line-height-level-6\">\u00a0Lightsource bp and Pinnacle Financial Partners today announced the closing of a $97.9 million tax equity deal to finance the 187 MW Peacock Solar in San Patricio County, TX.<\/p>\n    <p><a href=\"https:\/\/sandbox.lightsourcebp.com\/us\/news\/lightsource-bp-and-pinnacle-financial-partners-announce-97-9m-tax-equity-deal-for-peacock-solar\/\">Read Story <span class=\"ml-10\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"8\" height=\"14\" fill=\"none\"><path stroke=\"currentColor\" stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M1 13l6-6-6-6\"\/><\/svg><\/span><\/a><\/p>\n<\/div>\n                  <div class=\"col-12 col-lg-4 mb-30\">\n  <div class=\"multi-column-cards__image-container h-300px h-lg-250px\">\n    <a href=\"https:\/\/sandbox.lightsourcebp.com\/us\/news\/lightsource-bp-wins-two-north-american-agrivoltaics-awards\/\" class=\"d-block w-100 h-100\">\n      <picture><source srcset=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14162028\/Image-19-aspect-ratio-315-195-1200x743.jpg 1200w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14162028\/Image-19-aspect-ratio-315-195-300x186.jpg 300w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14162028\/Image-19-aspect-ratio-315-195-1024x634.jpg 1024w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14162028\/Image-19-aspect-ratio-315-195-80x50.jpg 80w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14162028\/Image-19-aspect-ratio-315-195-150x93.jpg 150w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14162028\/Image-19-aspect-ratio-315-195-450x278.jpg 450w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14162028\/Image-19-aspect-ratio-315-195-767x475.jpg 767w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14162028\/Image-19-aspect-ratio-315-195-1000x619.jpg 1000w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14162028\/Image-19-aspect-ratio-315-195-1600x990.jpg 1600w, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14162028\/Image-19-aspect-ratio-315-195.jpg 1920w\" sizes=\"\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2025\/10\/14162028\/Image-19-aspect-ratio-315-195-1200x743.jpg\" alt=\"\" width=\"1200\" height=\"743\" class=\"w-100 h-100 object-fit-cover\"><\/picture>\n    <\/a>\n  <\/div>\n      <p class=\"mt-20 mb-10 font-size-paragraph-small\">15 Aug, 2025<\/p>\n    <a class=\"text-decoration-none text-decoration-sm-underline-hover\" href=\"https:\/\/sandbox.lightsourcebp.com\/us\/news\/lightsource-bp-wins-two-north-american-agrivoltaics-awards\/\">\n    <h5 class=\"mb-15 fg-color-navy\">Lightsource bp wins two North American Agrivoltaics Awards<\/h5>\n  <\/a>\n      <p class=\"mb-15 line-height-level-6\">Lightsource bp proudly announces receipt of two North American Agrivoltaics Awards: Solar Ranch of the Year and Champion of the Year.<\/p>\n    <p><a href=\"https:\/\/sandbox.lightsourcebp.com\/us\/news\/lightsource-bp-wins-two-north-american-agrivoltaics-awards\/\">Read Story <span class=\"ml-10\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"8\" height=\"14\" fill=\"none\"><path stroke=\"currentColor\" stroke-linecap=\"round\" stroke-linejoin=\"round\" stroke-width=\"2\" d=\"M1 13l6-6-6-6\"\/><\/svg><\/span><\/a><\/p>\n<\/div>\n                  <\/div>\n  <\/div>\n\n  <div class=\"pt-60 pt-lg-100\"><\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[],"filter_by":[553],"filter_tags":[789],"class_list":["post-19322","post","type-post","status-publish","format-standard","hentry","category-uncategorized-us","filter_by-press-releases-us","filter_tags-energy-buyers"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/posts\/19322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/comments?post=19322"}],"version-history":[{"count":9,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/posts\/19322\/revisions"}],"predecessor-version":[{"id":480266,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/posts\/19322\/revisions\/480266"}],"wp:attachment":[{"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/media?parent=19322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/categories?post=19322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/tags?post=19322"},{"taxonomy":"filter_by","embeddable":true,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/filter_by?post=19322"},{"taxonomy":"filter_tags","embeddable":true,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/filter_tags?post=19322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}