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Lightsource BP buys USD 100m of solar trackers from Array Technologies

Solar parks using Array Technologies trackers. Source: Array Technologies

January 9 (Renewables Now) - Lightsource BP, the solar power company backed by BP Plc (LON:BP), announced today it has bought some USD 100 million (EUR 90m) worth of single-axis solar tracking equipment from Array Technologies Inc.

The company said it will use the equipment as part of the first phase of building more than 1.5 GW of large-scale solar parks in the US. Lightsource BP’s team has achieved a solar project pipeline of nearly 6 GW across the US since unveiling plans to expand in North America in late 2017, it noted.

“Lightsource BP is well positioned to execute its ambitious plan to deliver more than 4 GW in the US by 2023,” commented Kevin Smith, Lightsource BP’s CEO of the Americas.

The solar project developer used an equipment loan underwritten by CoBank, ACB in order to finance the equipment purchase.

(USD 1.0 = EUR 0.900)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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