Barclays and Lightsource bp agree $140 million tax equity deal for solar project in Louisiana
In California, Barclays and Lightsource bp announced that they have committed to a $140 million tax equity deal which will finance the construction of the Prairie Ronde 180MWdc solar project in St. Landry Parish, Louisiana. The deal is one of the first to be led by Barclays’ new Sustainable Project Finance team, working in partnership with the bank’s Energy Transition Group, which was formed last month to provide strategic advice to clients as they explore energy transition opportunities. Barclays acted as the sole external equity investor on the $140 million tax equity deal. Lightsource bp plans to build, own, and operate the solar farm, which will create 250 new jobs during construction. chains. Commercial operation of the project is expected to begin in late 2024. Lightsource bp has already agreed a power purchase deal with McDonald’s Corporation. The amount of solar energy the project will generate is enough to power over 600 McDonald’s restaurants with renewable electricity annually. It’s estimated that the project will abate 231,800 metric tons of carbon emissions each year, the company said.
