Lightsource bp has successfully closed on a $376 million multi-project financing package and mobilized construction on its 293 megawatt (dc) Sun Mountain solar project located in Pueblo, Colorado. Lightsource bp will build, own and operate the facility and deliver the solar energy it generates to Xcel Energy under a long-term power purchase agreement.

Sun Mountain Solar is part of a 466 megawatt, $376 million portfolio financing package for multiple solar projects. The tax equity investment for the portfolio was secured from Bank of America, marking its fourth transaction with Lightsource bp over the past two years.

Debt for the portfolio was provided by the following mandated lead arrangers: ING Capital LLC, HSBC Bank USA and NatWest.

Full construction has started, with commercial operation expected by late 2022. McCarthy Building Companies was selected by Lightsource bp as the Engineer, Procure, and Construct (EPC) contractor for the project. McCarthy has a proven track record of successfully building large utility-scale projects in Colorado, including Lightsource bp’s Bighorn Solar project, also in Pueblo.