HA Sustainable Infrastructure Capital, Inc. (HASI) has closed a structured equity investment with Lightsource bp for a 288-megawatt solar portfolio comprising two utility-scale projects in Texas. The transaction, which reached financial close on October 3, 2024, involves the 163 MW Starr Solar project and the 125 MW Second Division Solar project.
These projects are backed by long-term power purchase agreements with high-credit quality corporate off-takers and are expected to reach commercial operation by the end of 2024. They will generate enough electricity to power over 50,000 homes and abate an estimated 381,000 metric tons of carbon emissions annually.
The portfolio incorporates transferability facilities from the Inflation Reduction Act and qualifies for domestic content, utilizing solar panels from Arizona-based First Solar and smart solar trackers from New Mexico-based Array Technologies. This investment aligns with HASI's mission to deliver affordable, lower-carbon energy and expand its investment profile.
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