The Bellflower Solar Farm in Rush and Henry Counties, east of Indianapolis, Indiana, has begun construction. In January, Lightsource BP unveiled plans for a 173-megawatt solar farm. When fully operational, the solar farm will be able to provide enough sustainable energy to power almost 27,000 houses each year. The business announced that it has received a US$367 million portfolio financing package, which will fund not just the Bellflower Solar project, but also many other solar projects. They also stated that the solar farm is planned to go operational in late 2022. The project is planned to provide around 200 construction employment, with the vast majority of employees employed locally.
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According to the firm, the project will produce an estimated US$30 million in property tax income for Rush and Henry counties over the course of its existence. Bank of America provided the tax equity investment for the portfolio, marking the bank’s fourth transaction with Lightsource bp in the last two years. Bellflower Solar, for example, can assist to enhance local rural economies. Over the course of its existence, the project is estimated to generate US$30 million in property tax income for Rush and Henry Counties, benefiting local schools and other community public services. Its annual operating budget of US$2.4 million will be spent mostly in the area. In addition, the Bellflower project will provide around 200 construction employment.
Commentary on the Bellflower Solar Farm, Indiana
“This project finance deal demonstrates top-tier investors’ and power offtakers’ continuous trust in Lightsource bp and the quality of our solar assets.” “Our commitment to responsible solar development, such as the research we’re doing at Bellflower on co-locating pollinator habitat with solar, multiplies solar’s contribution to preserving our planet for future generations,” said Kevin Smith, Lightsource’s chief executive officer of the Americas, in a news release.
