diff --git a/CHANGELOG.rst b/CHANGELOG.rst
index 66e9af5ea..1f18c0f52 100644
--- a/CHANGELOG.rst
+++ b/CHANGELOG.rst
@@ -1,6 +1,14 @@
 Changelog
 =========
 
+1.5.0a1 (2024-07-16)
+--------------------
+
+Bug fixes
+
+* (WIP) Fix project_path when using DBT_LS mode by @tatiana
+
+
 1.5.0 (2024-06-27)
 ------------------
 
diff --git a/cosmos/__init__.py b/cosmos/__init__.py
index cfaa5def3..85d56ff7f 100644
--- a/cosmos/__init__.py
+++ b/cosmos/__init__.py
@@ -5,7 +5,7 @@
 
 Contains dags, task groups, and operators.
 """
-__version__ = "1.5.0"
+__version__ = "1.5.1a1"
 
 
 from cosmos.airflow.dag import DbtDag
diff --git a/cosmos/cache.py b/cosmos/cache.py
index d519eaca4..e8c4db894 100644
--- a/cosmos/cache.py
+++ b/cosmos/cache.py
@@ -246,6 +246,9 @@ def _calculate_dbt_ls_cache_current_version(cache_identifier: str, project_dir:
     :param project_path: Path to the target dbt project directory
     :param cmd_args: List containing the arguments passed to the dbt ls command that would affect its output
     """
+    logger.info(
+        f"_calculate_dbt_ls_cache_current_version for {cache_identifier} received the project_dir: {project_dir}"
+    )
     start_time = time.perf_counter()
 
     # Combined value for when the dbt project directory files were last modified
diff --git a/cosmos/dbt/graph.py b/cosmos/dbt/graph.py
index 62b6d88bf..22a30e1ab 100644
--- a/cosmos/dbt/graph.py
+++ b/cosmos/dbt/graph.py
@@ -195,6 +195,9 @@ def project_path(self) -> Path:
         """
         # we're considering the execution_config only due to backwards compatibility
         path = self.render_config.project_path or self.project.dbt_project_path or self.execution_config.project_path
+        logger.info(
+            f"Identifying the project path for {self.dbt_ls_cache_key}: path: {path}, path absolute: {path and path.absolute()}, render_config: {self.render_config.project_path}, project: {self.project.dbt_project_path}, execution_config: {self.execution_config.project_path}"
+        )
         if not path:
             raise CosmosLoadDbtException(
                 "Unable to load project via dbt ls without RenderConfig.dbt_project_path, ProjectConfig.dbt_project_path or ExecutionConfig.dbt_project_path"
@@ -261,7 +264,9 @@ def save_dbt_ls_cache(self, dbt_ls_output: str) -> None:
         dbt_ls_compressed = encoded_data.decode("utf-8")
         cache_dict = {
             "version": cache._calculate_dbt_ls_cache_current_version(
-                self.dbt_ls_cache_key, self.project_path, self.dbt_ls_cache_key_args
+                cache_identifier=self.dbt_ls_cache_key,
+                project_dir=self.project_path,
+                cmd_args=self.dbt_ls_cache_key_args,
             ),
             "dbt_ls_compressed": dbt_ls_compressed,
             "last_modified": datetime.datetime.now(datetime.timezone.utc).isoformat(),