Lightsource bp has closed on a $327 million financing package and started construction on the 313 MW DC Driver Solar project, located near Osceola in Mississippi County, Ark.
Lightsource bp completed development, permitted and financed the project and will construct the facility under a build-transfer agreement with Entergy Arkansas. Upon completion, Driver Solar will be the largest solar farm in Entergy Arkansas’ portfolio, as well as the largest in Arkansas.
Construction has started, with commercial operation expected by late 2024. Moss Construction was selected by Lightsource bp as their EPC contractor for the project and will install more than 650,000 solar panels manufactured by Arizona-based First Solar and solar trackers from New Mexico-based Array Technologies.
Debt for the Driver Solar project was provided by HSBC Bank, BNP Paribas, Societe Generale and Sumitomo Mitsui Banking Corp., with the balance of equity requirements supported by Lightsource bp.
Once constructed, ownership of the project will transfer to Entergy Arkansas under the build-transfer agreement.
“One of our key commitments to customers is to help them find economic solutions to meet their sustainability goals,” says Laura Landreaux, president and CEO of Entergy Arkansas. “Driver Solar plays a big role in providing savings to all customers and supporting businesses like U. S. Steel as they continue to advance their own clean energy future. These partnerships are helping to drive incredible growth in our state and will benefit our communities for decades to come.”