Lightsource bp closes on 130MW Alabama project, will certainly raise state's solar capacity by 20%.

• Lightsource bp has actually closed on a US$ 100 million financing bundle for the 130MW Black Bear Solar power project in Montgomery County, Alabama, which once full will certainly increase the state's complete mounted solar capacity by greater than 20%, according to Lightsource bp.

Located 15 miles from Alabama Municipal Electric Authority's (AMEA) head office in Montgomery, the project will supply cost-efficient, solar energy to AMEA's 11 member utilities situated across the state that serve around 350,000 clients.

The tax equity investment for the project was secured from a Minneapolis-based US bank, while financial debt for the project was supplied by Spanish banking giant Banco Santander and Sumitomo Mitsui Banking Corporation (SMBC), an international monetary team headquartered in Tokyo.

Kevin Smith, CEO of the Americas at Lightsource bp, said the project was a "testimony to the cost-effectiveness and bankability of solar energy" as he admired the calibre of financiers.

" World-class lending institutions are sustaining this project, and that AMEA has actually agreed to purchase the power on a lasting basis to the significant benefit of its participants.".

Last month (22 November), Lightsource bp landed a supply take care of US thin film producer First Solar to give Lightsource bp and also energy major bp with approximately 5.4 GW of its thin film modules. Lightsource bp as well as bp have placed firm orders for roughly 4.4 GWdc of modules, with choices for an extra 1GW, as they plan additional advancements throughout the United States.