UK-based solar energy company Lightsource bp has closed a $376m financing package to support the development of two solar projects in the US.

The move comes as the company mobilised construction of the two projects located in Colorado and Indiana.

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The 293MW (dc) Sun Mountain solar project in Colorado is located in the city of Pueblo. Lightsource bp will operate the facility, and will sell the solar energy generated at the site to Xcel Energy.

McCarthy Building Companies has been selected as the Engineer, Procure, and Construct (EPC) contractor for the project.

Lightsource bp Americas CEO Kevin Smith said: “This project financing transaction is a demonstration of the continued confidence that top-tier investors have in Lightsource bp, and the quality and bankability of our solar assets.

“Our commitment to responsible solar development delivers further value and contributes to the environmental, social and governance (ESG) goals of Lightsource bp and our investment partners.”

The 173MW (dc) Bellflower Solar project in Indiana is situated 40 miles east of Indianapolis.

Earlier this year, Lightsource bp signed a power purchase agreement with Verizon Communications. SOLV Energy has been awarded the EPC work for the Indiana project.

SOLV Energy CEO George Hershman said: “Projects like Bellflower are not only expanding access to clean power across the country, but also providing valuable job and training opportunities to American workers in rural communities.”

Both the solar parks are expected to commence commercial operations by late 2022.

Lightsource bp is a 50:50 joint venture with bp. In the US, the company is headquartered in San Francisco.

The company aims to develop 25GW of solar capacity by 2025.