Distributed Generation, Solar, Sourcing Renewables - January 13, 2022
Construction Begins on Solar Project to Power McDonald’s, Ebay
Construction on the Ventress Solar project near Baton Rouge, Louisiana has begun. The project will provide renewable energy as part of long-term PPAs signed by McDonald’s Corporation and eBay Inc.
Lightsource will build, own and operate the 345 megawatt (dc) Ventress Solar project. The solar farm will abate about 450,000 metric tons of GHG emissions annually, equivalent to annual emissions from about 99,000 fuel-burning cars.
“This unique partnership between Lightsource bp, eBay and McDonald’s is an example of how large brands can come together to drive meaningful impact at a local level,” said Emma Cox, Global Renewable Energy Lead at McDonald’s in a statement. “We’re thrilled to see our values come to life in a project like Ventress Solar and realize this important next step toward it coming online.”
Ventress Solar is part of a 480 MW, $533 million portfolio financing package for multiple solar projects. The debt for the portfolio was provided by the following Mandated Lead Arrangers, with the balance of equity requirements invested and supported by Lightsource bp - HSBC Bank USA, ING Capital LLC, Intesa Sanpaolo S.p.A., New York Branch, NatWest, Societe Generale, and Standard Chartered Bank.
Full commercial operation is expected in late 2023.
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