Lightsource BP secures financing for 200 MW PV plant in Australia

Lightsource BP, UK-based developer and operator of solar installations, has signed a senior debt facility with ING and EDC (Export Development Canada) to fund its first Australian solar project. The 200 MW solar installation, near Wellington, New South Wales, is the largest single plant to be financed by Lightsource BP to date, says the company. It is also one of the first times that bifacial solar panels will be installed at this scale in Australia. ING are underwriting two thirds of the financing with EDC funding the remaining third. NAB (National Australian Bank) will act as facility agent and security trustee on behalf of ING and EDC.
Construction is due »to start shortly« and will use Canadian Solar bifacial panels, alongside Array Technologies Inc. single axis tracking. The majority of the electricity generated by the site will be sold by Lightsource BP to Snowy Hydro via a 15-year Power Purchase Agreement (PPA). The plant is expected to produce approximately 435,000 MWh annually.

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