Lightsource bp has successfully secured financing for the 293 MW Sun Mountain solar project in Colorado totaling US$376 million. Lightsource bp will construct, manage and own the project, which will deliver solar energy to Xcel Energy under a long-term power purchase agreement. This is Lightsource bp’s second project in the city, totaling over 600 megawatts of renewable energy infrastructure to support Colorado’s clean energy future, the equivalent of eliminating more than 175,000 autos off the road each year.
Also Read: Financing secured for 145 MW Panorama wind farm, Colorado
Sun Mountain Solar is part of a portfolio loan package for a total of 466 MW and US$376 million in solar projects. Bank of America provided the portfolio with tax equity investment. The bank is one of the world’s largest financial institutions, providing a wide variety of investing, asset management, banking, and other financial and risk management services. The company’s emphasis on environmental, social, and governance (ESG) leadership contributes to responsible growth.
Commentary on the Sun Mountain Solar Farm
“The Sun Mountain Solar Farm shows once again the smart alliances that continue to provide long-term infrastructure and job opportunities in Southern Colorado.” Our state receives 300 days of sunlight each year, and I’m encouraged by the regional collaboration that is going place to maximize our abundant natural resources. “These and other recent projects in the region are important steps to meet the state’s strong greenhouse gas emission targets, all while producing healthier and cleaner communities and contributing to the local economy,” Will Toor, executive director of the Colorado Energy Office, stated.”Xcel Electricity is delighted to be teaming with Lightsource bp on another important solar project in Pueblo that will offer even more sustainable energy to our system while also producing employment in the community,” said Alice Jackson, president of Xcel Energy, Colorado.
