Lightsource bp and Pinnacle Financial Partners have announced the closing of a $97.9 million tax equity financing agreement for the 187-megawatt Peacock Solar project in San Patricio County, Texas.

This transaction represents the second tax equity partnership between Lightsource bp and Pinnacle, and Pinnacle’s first investment structured as a production tax credit (PTC) equity deal.

“We’re proud to collaborate with Pinnacle Financial Partners on this tax equity deal for Peacock Solar,” said Emilie Wangerman, Lightsource bp Chief Operating Officer and Head of USA. “Our partnership reflects our shared commitment to develop creative, effective capital solutions that support growth and deliver value to all stakeholders. This deal is an important step forward in advancing the renewable energy infrastructure in Texas and across the USA.”

“Pinnacle Financial Partners is delighted to participate as a tax-equity investor in the Peacock Solar project developed by Lightsource bp,” said Frank Conley, head of Pinnacle Financial Partners’ solar capital advisory. “This investment builds upon Pinnacle’s growing relationship with Lightsource bp and reinforces our commitment to supporting clean energy initiatives that benefit local communities, create jobs, and advance a more sustainable future.”