{"id":19324,"date":"2021-01-26T15:00:52","date_gmt":"2021-01-26T15:00:52","guid":{"rendered":"https:\/\/www.lightsourcebp.com\/news\/380m-financing-complete-and-construction-mobilized-on-316mw-of-solar-in-texas\/"},"modified":"2025-11-26T10:49:17","modified_gmt":"2025-11-26T10:49:17","slug":"380m-financing-complete-and-construction-mobilized-on-316mw-of-solar-in-texas","status":"publish","type":"post","link":"https:\/\/sandbox.lightsourcebp.com\/us\/news\/380m-financing-complete-and-construction-mobilized-on-316mw-of-solar-in-texas\/","title":{"rendered":"$380M financing complete and construction mobilized on 316MW of solar 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\">$380M financing complete and construction mobilized on 316MW of solar 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\/29094505\/380M-financing-complete-and-construction-mobilized-on-316MW-of-solar-in-Texas-450x188.jpg, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29094505\/380M-financing-complete-and-construction-mobilized-on-316MW-of-solar-in-Texas-1000x417.jpg 2x\"\n                          media=\"(max-width: 575px)\">\n                    <source srcset=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29094505\/380M-financing-complete-and-construction-mobilized-on-316MW-of-solar-in-Texas-1000x417.jpg, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29094505\/380M-financing-complete-and-construction-mobilized-on-316MW-of-solar-in-Texas.jpg 2x\"\n                          media=\"(min-width: 576px) and (max-width: 991px)\">\n                    <source srcset=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29094505\/380M-financing-complete-and-construction-mobilized-on-316MW-of-solar-in-Texas.jpg, https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29094505\/380M-financing-complete-and-construction-mobilized-on-316MW-of-solar-in-Texas.jpg 2x\"\n                          media=\"(min-width: 992px)\">\n                    <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29094505\/380M-financing-complete-and-construction-mobilized-on-316MW-of-solar-in-Texas.jpg\" alt=\"\"\n                       srcset=\"https:\/\/assets.lightsourcebp.com\/app\/uploads\/2022\/11\/29094505\/380M-financing-complete-and-construction-mobilized-on-316MW-of-solar-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-6926db2c40f85 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>Power contracts with energy partners Allianz and L3Harris Technologies supported project financing<\/li>\n<li>Projects will create 500 or more local jobs during construction<\/li>\n<\/ul>\n<p><strong>DALLAS, Texas (January 26, 2021)<\/strong> \u2013 Lightsource bp has successfully closed on a $380 million financing package and mobilized construction on its <a href=\"https:\/\/www.lightsourcebp.com\/us\/project\/elm-branch-solar\/\">Elm Branch<\/a> and <a href=\"https:\/\/sandbox.lightsourcebp.com\/us\/project\/briar-creek-solar\/\">Briar Creek<\/a> solar projects in Texas, both located about 40 miles south of Dallas. Tax equity financing for the projects was secured from Bank of America. The debt for the facilities was provided by the following mandated lead arrangers:<\/p>\n<ul>\n<li>ING Capital LLC, a financial services firm offering a full array of wholesale financial lending products and advisory services to its corporate and institutional clients. ING Capital LLC is an indirect U.S. subsidiary of ING Bank NV, part of ING Group NV (NYSE: ING), a global financial institution.<\/li>\n<li>Societe Generale, one of the leading European financial services groups, employing over 138,000 members of staff in 62 countries and supporting on a daily basis 29 million individual clients, businesses and institutional investors around the world.<\/li>\n<\/ul>\n<p>The balance of the equity requirements will be invested by Lightsource bp. CohnReznick Capital was engaged as the tax equity advisor for the transaction.<\/p>\n<p><strong>Kevin Smith, CEO of the Americas, Lightsource bp:<\/strong> <em>\u201c<\/em><em>This transaction is a demonstration of the low risk and stable yield opportunities that renewable energy projects offer to investors, the quality and bankability of our developed assets, and the confidence that top tier investors have in Lightsource bp. Despite challenges posed with COVID-19, Lightsource bp reached financial close on over $1.2 billion in transactions in the US in 2020, a substantial increase from 2019.\u201d<\/em><\/p>\n<h4>Financing facilitated by partners committed to supporting the growth of renewable energy<\/h4>\n<p>Power contracts secured with energy partners played a key role in supporting investment and financing of this new clean energy infrastructure in Texas:<\/p>\n<ul>\n<li>a virtual power purchase agreement (VPPA) with L3Harris Technologies for up to 100 megawatts of capacity from Elm Branch, and<\/li>\n<li>a proxy generation power purchase agreement (pgPPA) with the Capital Solutions unit of Allianz Global Corporate &amp; Specialty (AGCS) with respect to the electricity generated by Briar Creek.<\/li>\n<\/ul>\n<p>Construction has started with commercial operation of both projects expected by late 2021. McCarthy Building Companies was selected by Lightsource bp as their Engineering, Procurement, and Construction (EPC) Contractor for the project. The McCarthy team was selected for both their track record in successfully building large-scale solar projects and their commitment to recruiting and hiring from the local workforce.<\/p>\n<p><strong>Scott Canada, executive vice president of McCarthy\u2019s Renewable Energy &amp; Storage team:<\/strong> \u201c<em>We are honored to be part of the team that is bringing clean energy to these Texas communities. Around the country we are seeing the positive impact that solar energy can have on communities as they embrace clean energy solutions to attract large companies with renewable energy goals, and serve to provide career opportunities in the growing solar construction sector. Through our well-structured training program and rigorous design-phase planning we\u2019re able to help those in the local workforce while also building some of the most efficient solar facilities that provide long-term reliable energy to its customers, which is why we do what we do. It\u2019s very rewarding!\u201d<\/em><\/p>\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-6926db2c40ff2 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":134033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[129],"tags":[],"filter_by":[553],"filter_tags":[795,796],"class_list":["post-19324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-en-ie","filter_by-press-releases-us","filter_tags-construction-milestones","filter_tags-financing"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/posts\/19324","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=19324"}],"version-history":[{"count":8,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/posts\/19324\/revisions"}],"predecessor-version":[{"id":479016,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/posts\/19324\/revisions\/479016"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/media\/134033"}],"wp:attachment":[{"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/media?parent=19324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/categories?post=19324"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/tags?post=19324"},{"taxonomy":"filter_by","embeddable":true,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/filter_by?post=19324"},{"taxonomy":"filter_tags","embeddable":true,"href":"https:\/\/sandbox.lightsourcebp.com\/us\/wp-json\/wp\/v2\/filter_tags?post=19324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}