Lightsource BP signs financing, goes bifacial-plus-trackers for Spain debut

Feb 3, 2020 03:52 PM ET
  • Lightsource BP has clinched a financing handle London-headquartered bank NatWest to finance the development of its first Spanish solar jobs.
Lightsource BP signs financing, goes bifacial-plus-trackers for Spain debut
Image: Lightsource BP

The developer has likewise exposed the determine of the engineering, procurement and building and construction (EPC) company designated to the cluster, and the suppliers of essential parts for the varieties.

NatWest Markets is to provide a senior debt facility to Lightsource BP that underwrites the project’& rsquo; s whole funding needs, making it possible for the designer to advance on a 250MW-strong cluster of tasks in Zaragoza that it got last year.

That offer was for 300MW, and PV Tech comprehends that the remaining 50MW tranche will be financed under a different handle building and construction to begin later on this year.

Paul McCartie, primary financial investment officer at Lightsource BP, admired the speed at which the financing plan had been put together, mentioning it as a “& ldquo; big testament & rdquo; to what the company can bring to Spain’& rsquo; s rapidly establishing solar market.

“& ldquo; We are pleased to be in collaboration with BP and NatWest Markets on our very first offer in Spain. We have now made our mark on the regional market which is another action towards the business’& rsquo; s wider objective of attaining 10GW in the next five years,” & rdquo; he said. The cluster is backed by a seven-year power purchase agreement it has signed with BP European Gas and Power, which counts among the oil and gas giant’& rsquo; s energy supply and trading arm.

Lightsource BP has likewise appointed Andalusia-based Prodiel as the EPC for the task cluster.

Trina Pro bifacial panels are to be utilized together with Power Electronics trackers and inverters, with Lightsource BP arguing the combination would allow for the website to operate at “& ldquo; optimum effectiveness” & rdquo; while enhancing energy production.

It is intended that the projects will come onstream in January 2021.

Lightsource BP is among a growing number of huge names targeting Spain’& rsquo; s prospering solar market, alongside the similarity utility giant Iberdrola –-- which last month toasted the completion of "Europe’& rsquo; s largest" solar plant in the nation –-- European solar stalwart Solarcentury and IPP Solaria.

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