The investment is the first phase in the construction of over 1.5 GW of large-scale solar projects in the U.S. This represents a major portion of Lightsource BP’s projected build program in the U.S. over the next few years.
Lightsource BP financed the equipment purchase with a loan underwritten by CoBank ACB. CoBank’s customers include agribusiness, power, water and telecommunications.
“We’re pleased that we will have certainty of equipment supply as well as cost savings for our solar projects located across the country,” says Kevin Smith, CEO of Lightsource BP. “Lightsource BP is well positioned to execute its ambitious plan to deliver more than 4 gigawatts in the U.S. by 2023.”
Since Lightsource BP announced its expansion into North America in late 2017, the team has implemented almost 6 GW of solar projects across the U.S., including 540 MW of power purchase agreements in 2019 and 366 MW of projects in construction.
This agreement comes after a recent collaboration between Lightsource BP and Array Technologies on a 200 MW project in Australia.
Photo: Array Technologies solar tracker