Lightsource bp, a global leader in renewable energy, has successfully secured an $85 million tax equity investment from Bank of America to support the construction and operation of the Honeysuckle Solar project. This marks Bank of America's fifth tax equity transaction and seventh collaboration with Lightsource bp, contributing to a cumulative total of nearly 1.5GW of solar power. The financial institution also participated in the debt financing for the project, joining forces with ING Capital LLC, Lloyds Banking Group, NatWest, and Societe Generale.

Situated in St. Joseph County, Indiana, the 188-megawatt Honeysuckle Solar project is set to go online in early 2024, delivering clean energy to AEP Energy Partners under a long-term power purchase agreement. This initiative underscores Bank of America's commitment to social and environmental responsibility, aligning with Lightsource bp's mission to combat climate change and promote sustainable development.

Emilie Wangerman, Lightsource bp's Interim COO of the United States, emphasized the importance of tangible social and economic benefits resulting from sustainable investments. The Honeysuckle Solar project is expected to abate over 204,000 metric tons of greenhouse gas emissions annually, contributing to the fight against the climate crisis. Notably, the project has created approximately 200 direct jobs during construction, with over 75% of the workforce hired locally, providing opportunities for apprenticeship programs.

In addition to the positive economic impact, Lightsource bp is fostering biodiversity benefits at the Honeysuckle Solar site. Partnering with the Bee & Butterfly Habitat Fund, the project incorporates a custom mix of vegetation underneath and around the solar panels, creating a habitat that supports critical pollinators and other wildlife.

Source: lightsourcebp.com