Lightsource BP has reached a $327 million financial close on the 313MWdc (250MWac) Driver Solar Project near Osceola in Mississippi County, Arkansas.
The project's ownership will be transferred to energy company Entergy Arkansas, making it the largest solar farm in its portfolio and the state of Arkansas, following a build-transfer agreement.
Lightsource BP covered the project's equity alongside debt provided by these lenders:
HSBC Bank USA
BNP Paribas
Societe Generale
Sumitomo Mitsui Banking Corporation
The solar company acquired Driver Solar in 2021 from Acadian Renewable Energy, a JV among affiliates of SunChase Power and Eolian, which initiated the project’s development in 2016.
The project is expected to generate enough energy to power more than 50,000 homes.
Lightsource BP has obtained over $3.7 billion in funding from finance partners over the past four years to develop renewables projects in 10 states across the US.
Laura Landreaux, president and chief executive of Entergy Arkansas, said: "Driver Solar plays a big role in providing savings to all customers and supporting businesses like US Steel as they continue to advance their clean energy future. These partnerships are helping to drive incredible growth in our state and will benefit our communities for decades to come."