Lightsource BP shuts financing on Australian solar projects

Dec 9, 2022 12:39 PM ET
  • The Wellington North and also Wunghnu farms are anticipated to enter procedures in 2024
Lightsource BP shuts financing on Australian solar projects
Image: Lightsource bp

Lightsource BP has actually effectively closed on a A$ 540m (US$ 365m) portfolio green financing plan as well as will begin complete building activities on its Wellington North and also Wunghnu solar projects located in New South Wales and Victoria.

Building by Gransolar on both projects began under very early work agreements in August 2022, with complete notice to continue to be issued and also commercial procedures are expected in 2024.

Along with its Wellington, West Wyalong, as well as Woolooga projects, Lightsource bp currently has more than 1GWdc of creating capacity in building and also procedure in Australia, which is enough to power over 350,000 Australian homes.

Financing for the projects was secured from ANZ, ING, Mizuho, NORD/LB, and also Westpac.

The financial debt bundle has actually been structured as a green financing loan, with ANZ, ING, as well as Westpac as Joint Green Loan Co-ordinators. A Green financing loan is where the funding is set aside by lenders for new projects that develop positive ecological outcomes.

Lightsource bp has actually likewise become part of a Power Purchase Agreement with Boral, along with the formerly introduced PPAs with ENGIE, Orica and Mars Australia.

Adam Pegg, Managing Director, Lightsource bp Australia and also New Zealand, said: "We are proud to reach economic close on these projects, and also we welcome the backing from ANZ, ING, Mizuho, NORD/LB, and also Westpac.

" This is an amazing success from the Lightsource bp team, and I'm grateful for the solid support from our clients, the neighborhood communities in which we run, and also these lending institutions. This milestone currently sees Lightsource bp end up being the leading solar designer as well as proprietor in Australia on a MWac basis.

" It is an unbelievable initiative to reach financial close and construction on 841MWac/1,037 MWdc considering that setting up business in Australia in 2018."

Solar Installers, Manufacturers