In a major step toward strengthening America’s renewable energy landscape, Lightsource bp has secured a $97.9 million tax equity investment from Pinnacle Financial Partners for its 187 MW Peacock Solar project in Texas. This collaboration not only marks Pinnacle’s first production tax credit (PTC) equity deal but also reinforces the growing investor confidence in sustainable infrastructure. Here’s how this partnership is driving both clean energy expansion and financial innovation.

The recent $97.9 million investment by Pinnacle Financial Partners marks the second tax equity transaction between Pinnacle and Lightsource bp—an indicator of deepening trust and strategic alignment. What makes this deal stand out is Pinnacle’s debut in PTC equity financing, a move that signifies a new era of diversified clean energy investments. As tax equity financing becomes a key driver in renewable energy deployment, such partnerships exemplify how financial institutions are playing a pivotal role in accelerating the energy transition.

Located in San Patricio County, Texas, the 187 MW Peacock Solar project began commercial operations in November 2024. Generating over 360 GWh of clean energy annually, it stands as a cornerstone of Texas’ renewable power ecosystem. The project is not just a solar facility—it’s a regional milestone in sustainability, powering thousands of homes and industries while contributing to emissions reduction goals. Its long-term offtake agreement with Gulf Coast Growth Ventures, a joint venture between ExxonMobil and SABIC, further enhances its reliability and economic impact by supplying clean power to a major manufacturing complex.

The proceeds from Pinnacle’s investment will directly support the ongoing operation and maintenance of the Peacock Solar project, ensuring consistent, clean, and cost-effective energy delivery. Beyond energy generation, projects like Peacock stimulate local economies through job creation, infrastructure development, and community engagement. This collaboration underscores the potential of public-private partnerships in achieving a sustainable future—where innovation, investment, and impact align seamlessly.

Lightsource bp’s collaboration with Pinnacle Financial Partners marks more than a financial milestone—it’s a testament to the power of partnership in fueling America’s clean energy transformation. As renewable projects like Peacock Solar continue to expand, they illuminate a future where sustainable growth and economic resilience go hand in hand.

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