Lightsource BP purchased approximately $100 million in equipment from Array Technologies, a provider of solar tracking solutions.

Lightsource BP financed the equipment purchase with an equipment loan underwritten by CoBank, ACB – one of the largest private providers of credit to the U.S. rural economy with more than $135 billion in assets. CoBank’s customers include agribusiness, power, water and telecommunications.

The investment in single-axis solar tracking equipment was completed in December, and is the first phase in the construction of over 1.5 gigawatts of large-scale solar projects in the U.S. This represents a significant portion of Lightsource BP’s projected build program in the U.S. over the next few years.

This agreement comes after recent collaboration between Lightsource BP and Array Technologies on a milestone 200-megawatt project in Australia.

“We’re pleased that we will have certainty of equipment supply as well as cost savings for our solar projects located across the country,” said Kevin Smith, Lightsource BP’s CEO of the Americas. “Lightsource BP is well positioned to execute its ambitious plan to deliver more than 4 gigawatts in the U.S. by 2023.”

“We are delighted to be working with Lightsource BP to deliver on this robust pipeline of projects,” stated Jim Fusaro, CEO at Array Technologies. “This agreement demonstrates the quality and bankability of Array’s single-axis tracking system over a diverse set of developments. Collaborations, such as this, showcase the flexibility and adaptability of both our business and our products.”