Barclays and Lightsource bp Power Louisiana with Solar Deal

• Barclays and Lightsource bp team up for $140 million solar project in Louisiana, creating jobs and reducing carbon emissions for a brighter future.

Barclays and Lightsource bp have signed a $140 million tax equity deal to finance the construction of the Prairie Ronde 180MWdc solar project in Louisiana. This deal is one of the first led by Barclays' new Sustainable Project Finance team, aiming to facilitate $1 trillion of Sustainable and Transition Financing by 2030. The project is expected to create 250 new jobs during construction and generate significant tax revenue for St. Landry Parish public services.

Lightsource bp plans to build, own, and operate the solar farm, with commercial operation expected to begin in late 2024. The company has committed to philanthropic activities, charity donations, and increasing biodiversity on the land. The project has also secured a power purchase deal with McDonald's Corporation, enough to power over 600 McDonald's restaurants annually and abate 231,800 metric tons of carbon emissions each year. St. Landry Parish President Jessie Bellard praised the investment, stating it will bring job opportunities, infrastructure development, and improved education for the community.

What are the benefits of Barclays and Lightsource bp's $140 million tax equity deal?

• The $140 million tax equity deal will help finance the construction of the Prairie Ronde 180MWdc solar project in Louisiana, contributing to the growth of renewable energy infrastructure in the region.
• Barclays' new Sustainable Project Finance team aims to facilitate $1 trillion of Sustainable and Transition Financing by 2030, showing a commitment to supporting environmentally friendly projects like the solar farm.
• The project is expected to create 250 new jobs during construction, providing employment opportunities for local residents and boosting the economy in St. Landry Parish.
• The solar farm will generate significant tax revenue for St. Landry Parish public services, helping to fund essential community programs and services.
  
• Lightsource bp's commitment to philanthropic activities, charity donations, and increasing biodiversity on the land demonstrates a dedication to environmental and social responsibility.
• The power purchase deal with McDonald's Corporation will not only provide renewable energy for over 600 McDonald's restaurants annually but also help abate 231,800 metric tons of carbon emissions each year, contributing to efforts to combat climate change.
• St. Landry Parish President Jessie Bellard praised the investment, highlighting the benefits it will bring to the community, including job opportunities, infrastructure development, and improved education.