Barclays and Lightsource bp secure $140 million for Louisiana solar project, powering McDonald’s and boosting local economy.

Barclays and Lightsource bp have signed a $140 million tax equity deal to finance the construction of the Prairie Ronde 180 MW solar project in St. Landry Parish, Louisiana. The deal includes plans for construction, ownership, and operating the solar farm, while McDonald’s will purchase all of the electricity generated by the project through a power purchase agreement. The project is expected to create 250 new jobs during construction and generate over $20 million in economic benefits for local public services, including $8.3 million in the first five years after construction begins, and is estimated to abate 231,800 metric tons of greenhouse gas emissions annually. Barclays acted as the sole external equity investor on the deal, leading to its goal of facilitating $1 trillion of Sustainable and Transition Financing between 2023 and 2030.