Lightsource closes $460 million multi-project financing package

By William Gullotti

Buffalo, N.Y., June 1 – Lightsource BP closed on a $460 million financing package for solar projects in Louisiana and Indiana, according to a press release on Thursday.

Leveraging the Inflation Reduction Act’s advantages for products made in the United States, proceeds will be used to support the construction and operation of two utility-scale solar projects. Together, the projects constitute a 368 megawatt portfolio scheduled to come online in 2024.

Power purchase agreements with McDonald’s and AEP Energy Partners helped facilitate the financing, with McDonald’s supporting the 180 megawatt project in Louisiana and AEP supporting the 188 megawatt project in Indiana.

Debt for the portfolio was provided by mandated lead arrangers Bank of America, ING Capital LLC, Lloyds Banking Group, NatWest and Societe Generale.

London-based Lightsource is a solar project funding and development company with operations in the Middle East and Africa, Asia Pacific and the Americas. U.S. operations are based out of San Francisco.

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