March 20 (Renewables Now) - Lightsource BP has obtained a USD-250-million (EUR 232.3m) financing package for a 260-MW photovoltaic (PV) project in Texas that enabled it to kick off construction works.
The solar power company backed by BP Plc (LON:BP) said on Thursday that the Impact solar park is being installed in Lamar County. Its construction was backed by a senior debt facility co-provided by HSBC Bank USA and National Westminster Bank PLC (NatWest) and tax equity by Bank of America.
The PV park is scheduled to become operational by the end of this year, with its output expected to be enough to supply over 34,000 homes in the Texas market and offset more than 268,000 tonnes of carbon dioxide (CO2) emissions annually. The generated electricity will be traded under a long-term agreement with BP.
Swinerton Renewable Energy has been tasked with building the power plant whose construction, operation, maintenance and asset management will open almost 300 jobs.
(USD 1.0 = EUR 0.929)