Lightsource bp is currently developing a 288-MWDC solar portfolio of two utility-scale projects in Texas. Construction on Starr Solar project (163 MW) in Starr County and Second Division Solar (125 MW) in Brazoria County, is being financially supported by a recent $348 million investment. The projects, expected to come online in 2024, will create a combined 400 jobs during construction.
“This deal is an important milestone towards building out our growing portfolio of solar and storage projects across the United States, extending our relationship with several top-tier financing counterparties, each of whom have partnered with Lightsource bp on previous transactions,” said Emilie Wangerman,head of USA, COO (interim), Lightsource bp. “It’s also our first transaction to benefit from the transferability provisions of the Inflation Reduction Act of 2022 to monetize the projects’ investment tax credits.”
Lightsource bp currently operates three solar projects in Texas: the 260-MW Impact, 163-MW Elm Branch and 153-MW Briar Creek Solar projects.
Three years ago, during winter storm Uri, the Impact Solar project (Lightsource bp’s only commercially operational project in Texas at the time) was operating and produced enough electricity to power more than 10,000 homes. During summer 2023’s heatwaves, all three projects were operating, keeping the lights on and air conditioners running for Texas families while helping alleviate electricity price spikes. During recent January 2024’s winter storm Heather, the projects operated at 99% availability.
News item from Lightsource bp