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Strategic investments power sustainable growth

EnergyState

Jack Steele

Publish in News-Enterprise: Dec 29, 2023

 

When it comes to being a valuable corporate citizen, it is important for companies to invest in initiatives that not only address the current needs of the community, but also accommodate future demands.

That is why Lightsource bp, where I have the privilege of serving as director of development, helped fund the recently released economic impact report commissioned by the Hardin County Chamber of Commerce and conducted by the Louisville-based consulting firm L.B. Schmidt & Associates, entitled Measuring the Impact of the BlueOval SK Battery Park on the Elizabethtown Metro Area.

This in-depth study highlights the projected impacts of the BlueOval SK Battery Park and outlines strategic recommendations to manage and optimize the growth expected.

As a company invested in the future of this region, it was important for Lightsource bp to fund this comprehensive study. Our company is actively developing the Telesto Solar project, a 128-megawatt dc utility-scale solar project situated across roughly 650 acres of privately owned land in Hardin County, on behalf of bp, the project owner. This project is designed to generate clean, sustainable home-grown power and channel it into the 138 kV East Kentucky Power Cooperative substation.

Lightsource bp is a global leader in developing and managing solar energy and energy storage projects, with more than 3,200 megawatts of projects in operation or construction in 11 states across America. Last month, bp agreed to acquire the remaining 50.03% interest it does not already own in Lightsource bp. Full ownership will enable bp to further scale up Lightsource bp and create additional value by applying bp’s complementary capabilities and strengths — including in finance and trading — fully to the business.

We see this as a net positive not just for our operations but for the communities we serve along with projects such as Telesto Solar.

As we seek to pursue meaningful corporate citizenship in Hardin County, we want to recognize and support organizations like the Hardin County Chamber of Commerce as they promote economic development and foster a more robust business community. That is why, in addition to supplementing the economic impact study, Lightsource bp is investing in Hardin County’s Chamber at the President’s Circle level, the highest investment among the Chamber’s Top Investor options.

When we joined the President’s Circle last year, we proudly announced that bp pledged $1 million toward a community fund to support organizations in Hardin County when the Telesto solar project moves into the construction phase. The fund would benefit educational, environmental, and economic development initiatives in the county and would be allocated once construction begins.

Lightsource bp is honored to join the growing tapestry of local commerce and we are pleased to contribute to this community’s growth. As we witness the burgeoning potential stemming from renewable energy, particularly through the EV battery production via BlueOval SK, we are equally thrilled about the prospects of expanded economic opportunities through renewable energy in the region.

To read the entirety of Measuring the Impact of the BlueOval SK Battery Park on the Elizabethtown Metro Area, go to hardinchamber.com/energystate. To learn more about the Telesto Solar Project, go to telestosolar.com.

Jack Steele serves as director of development for Lightsource bp. Direct questions about the weekly EnergyState column to EnergyState@HardinChamber.com.