Lightsource bp has closed a $327 million financing package and begun construction on a 313 MW DC Driver Solar project located near Osceola in Mississippi County, Ark.
Lightsource bp completed the development, permitted and financed the project and will build the facility under a build-transfer agreement with Entergy Arkansas. Upon completion, Driver Solar will be the largest solar farm in the Entergy Arkansas portfolio and the largest in Arkansas.
Construction has begun, and commercial operations are expected to take place in late 2024. Lightsource bp selected Moss Construction as its EPC contractor for the project, and it will install more than 650,000 solar panels manufactured by Arizona-based First Solar and solar tracking equipment from New Mexico-based Array. Technologies.
Driver Solar project debt was issued by HSBC Bank, BNP Paribas, Societe Generale and Sumitomo Mitsui Banking Corp. with the balance of the capital requirement backed by Lightsource bp.
Once the project is built, ownership of the project will be transferred to Entergy Arkansas under a build-transfer agreement.
“One of our most important commitments to customers is to help them find financial solutions to meet their sustainability goals,” said Laura Landreaux, Entergy Arkansas CEO. “Driver Solar plays a big role in providing savings to all customers and supporting companies like US Steel as they continue to advance their own clean energy future. These partnerships will help drive incredible growth in our state and benefit our communities for decades to come.”