Operis was pleased to provide a high level review of the financial model for Lightsource bp in support of the 300 megawatt solar farm to power the EVRAZ Rocky Mountain Steel mill in Pueblo, Colorado. The Bighorn Solar project involves the build, finance and operation of one of the largest single customer solar facilities in North America. Approximately 750,000 bifacial solar panels are expected to provide about 95% of the mill’s annual electricity demand. The electricity generated will be bought and distributed by Xcel Energy. The project contributes to Xcel Energy’s Colorado Energy Plan which aims to deliver 55% renewable energy by 2026 and 100% renewable energy by 2050. Construction is underway and is expected to be completed by late 2021.
Lightsource bp secured tax equity financing from Bank of America. The debt facility was provided by Sumitomo Mitsui Banking Corporation, Societe Generale and Export Development Canada.
