{"id":248060,"date":"2023-01-18T21:04:00","date_gmt":"2023-01-18T21:04:00","guid":{"rendered":"https:\/\/lightsourcebp.staging.1int.co.uk\/?p=248060"},"modified":"2026-01-06T19:48:54","modified_gmt":"2026-01-06T19:48:54","slug":"lightsource-bp-closes-first-tax-equity-deal-with-wells-fargo-for-481-megawatt-solar-portfolio","status":"publish","type":"post","link":"https:\/\/lightsourcebp.staging.1int.co.uk\/us\/news\/lightsource-bp-closes-first-tax-equity-deal-with-wells-fargo-for-481-megawatt-solar-portfolio\/","title":{"rendered":"Lightsource bp closes first tax equity deal with Wells Fargo for 481 megawatt solar portfolio"},"content":{"rendered":"
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$276 million tax equity investment<\/h1>\n <\/div>\n <\/div>\n <\/div>\n\n
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Lightsource bp closes first tax equity deal with Wells Fargo for 481 megawatt solar portfolio<\/span><\/b>\u00a0<\/span><\/h2>\n

$267 million financing leverages Production Tax Credit (PTC) structure made available for solar in the Inflation Reduction Act of 2022<\/span><\/i><\/b>\u00a0<\/span><\/h4>\n

San Francisco, CA (January 18, 2023): Lightsource bp has successfully closed on a $267 million tax equity investment from Fortune 500 Wells Fargo & Company (NYSE: WFC), a leading financial services company with approximately $1.9 trillion in assets. The tax equity investment by Wells Fargo is in addition to Lightsource bp\u2019s sponsor equity investment and complements the debt financing package which originally closed in December 2021.<\/span>\u00a0<\/span><\/p>\n

\u201dWe are pleased to support Lightsource bp in its efforts to supply low-cost, emission-free solar electricity in Louisiana and Arkansas,\u201d said Shane Easter, a director with Wells Fargo\u2019s Renewable Energy & Environmental Finance group. \u201cProviding expertise and capital to important customers like Lightsource bp is part of our commitment to deploy $500 billion in sustainable financing by 2030 to support our customers and communities as they transition to a resilient, equitable and sustainable future.\u201d<\/span>\u00a0<\/span><\/p>\n

Well Fargo\u2019s investment will support the construction and operation of a two-project portfolio totaling 481 megawatt dc (MW), which are among the largest projects in each state, and include:<\/span>\u00a0<\/span><\/p>\n