Lightsource bp’s Driver Solar Project: A Sustainable Solution for Arkansas and US Steel
Lightsource bp, a global leader in renewable energy development and management, recently secured financing for its latest solar project, the 313MW Driver Solar facility in Arkansas. This project is a significant milestone for the company, which has already completed project development, permitting, and financing for the facility.
The Driver Solar project will be developed under a build-transfer agreement with Entergy Arkansas, one of the largest electricity providers in the southern US. Once completed, the solar facility will be the largest in Entergy Arkansas’ portfolio and in the state of Arkansas, capable of powering over 50,000 homes.
One of the unique aspects of this project is its partnership with US Steel, which is located near the Driver Solar facility. The energy generated by the solar facility will be used to power US Steel’s Big River Steel facility, which produces environmentally friendly verdeX® steel, a steel produced using up to 90% recycled materials and with fewer emissions.
This partnership highlights the potential for renewable energy to be integrated into existing industrial infrastructure, reducing the carbon footprint of traditional manufacturing while simultaneously driving economic growth and creating jobs.
Lightsource bp’s commitment to research and development has allowed the company to stay at the forefront of renewable energy technology. With a global portfolio of over 13GW of solar capacity, the company has continued to drive innovation in the industry.
The Driver Solar project is a prime example of Lightsource bp’s focus on sustainable energy solutions that benefit communities and the environment. With this latest development, Lightsource bp is helping to pave the way for a cleaner, more sustainable future.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
Who We Are:
Swanson Reed is one of the U.S.’ largest Specialist R&D tax advisory firms. We manage all facets of the R&D tax credit program, from claim preparation and audit compliance to claim disputes.
Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPAs. For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.