– Lightsource bp secures US$334 million finance package for two new solar projects in Texas
– Projects in Starr County and Brazoria County to deliver 288 MW of energy capacity
– Lloyds Bank provides US$67 million in financing for the projects, generating enough electricity for 50,000 homes
Lightsource bp has secured a $334 million finance package to support the construction of two solar energy projects in Texas, with support from Lloyds Bank. The projects are expected to deliver a combined energy capacity of 288 MW, generating enough electricity to power 50,000 homes. The development of these projects will also create 400 jobs during construction.
Lightsource bp specializes in financing, developing, and managing solar energy and energy storage projects. As a joint venture with BP, the company has experienced rapid growth since its founding in 2010, with operations across 19 countries developing 8.4 GW of power to date. The financing from Lloyds Bank marks the third transaction supporting Lightsource bp’s renewable energy projects in the US and aligns with Lloyds Bank’s commitment to reducing carbon emissions.
Emilie Wangerman, Head of USA and Interim COO at Lightsource bp, expressed that the deal with Lloyds Bank is a significant milestone in expanding their solar and storage projects globally. The aim is to continue unlocking decarbonization opportunities for utilities, businesses, and governments. This partnership with Lloyds Bank is driving the transition to a low carbon economy by supporting renewable energy projects like these in the US.