Lightsource bp has successfully closed on a $533 million multi-project financing package and will soon mobilize construction on its 135 megawatt (dc) Conway Solar project located near Happy, Arkansas, approximately 55 miles northeast of Little Rock. Lightsource bp will build, own and operate the facility and deliver the clean, renewable energy it generates to Conway Corp under a long-term power purchase agreement for their customers in the City of Conway. The solar farm will generate enough electricity to power more than 21,400 homes, and will also play a role in reducing the city’s carbon footprint by the equivalent of CO2 emissions from 35,400 fuel burning cars annually.
Bret Carroll, Chief Executive Officer, Conway Corp: “Our mission is to provide safe, affordable, reliable, innovative and environmentally sound service to our customers. This solar project checks all those boxes. It is a project that will have lasting impact on our community. We look forward to working with Lightsource bp to get the project under construction and delivering service to our customers.”
Conway Solar at Happy project supported by world-class finance partners
Conway Solar is part of a 480 megawatt, $533 million portfolio financing package for multiple solar projects. Debt for the portfolio was provided by the following Mandated Lead Arrangers, with the balance of equity requirements invested and supported by Lightsource bp.
In the last two years, the Lightsource bp team has raised over $2.3 billion in financing for its projects in ten states across the US.
Bringing environmental and economic benefits to the local community
Kevin Smith, CEO of the Americas, Lightsource bp: “Beyond improving the health and energy security of communities across America, large-scale solar projects help strengthen local economies. As the owner and operator of the Conway solar farm at Happy, we look forward to bringing economic benefits to the region, along with fostering long-term community partnerships.”
Construction of the Conway Solar farm at Happy will:
Construction will start in March 2022, with full commercial operation expected in mid 2023. Gibson Technical Services (GTS), a Subsidiary of Orbital Energy Group, has been selected by Lightsource bp as the Engineering, Procurement, and Construction (EPC) contractor for the photovoltaic (PV) solar plant.
Jim O’Neil, Vice Chairman and CEO, Orbital Energy Group: “Orbital Energy Group recognizes Lightsource bp as a leading utility scale solar developer in the nation and appreciates the relationship we have established moving the Conway project to the construction phase. We fully expect to advance our partnership with Lightsource bp, safely completing this project on time, and with quality workmanship.”
Lightsource bp | lightsourcebp.com