Lightsource BP
{{Short description|Largest solar developer in Europe}}
{{More citations needed|date=November 2020}}
{{Use dmy dates|date=June 2025}}
{{Infobox company
| name = Lightsource bp
| logo = Lightsource bp logo.png
| logo_size = 250
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| trading_name =
| former_name = Lightsource Renewable Energy
| type = Subsidiary
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| industry = Solar power
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| founded = 2010
| founder = Nick Boyle
| defunct =
| hq_location_city = London
| hq_location_country = United Kingdom
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| key_people = Nick Boyle (CEO)
| products = Electric power
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| services = Development and operation of solar power farms
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| num_employees = ~1000
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| parent = BP
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| website = {{URL|https://www.lightsourcebp.com/|lightsourcebp.com}}
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Lightsource BP, rebranded from Lightsource Renewable Energy in 2018, is the largest solar developer in Europe, and third largest in the world outside of China.{{cite news|url=https://uk.reuters.com/article/uk-lightsource-bp-stake/bp-returns-to-solar-with-investment-in-lightsource-idUKKBN1E90GW|archive-url=https://web.archive.org/web/20171215135056/https://uk.reuters.com/article/uk-lightsource-bp-stake/bp-returns-to-solar-with-investment-in-lightsource-idUKKBN1E90GW|url-status=dead|archive-date=15 December 2017|title=BP returns to solar with investment in Lightsource|first1=Ron |last1=Bousso |first2 = Susanna | last2 = Twidale |date= 15 December 2017 |accessdate=29 September 2020|work=Reuters}} Lightsource BP is a British company with headquarters in London, and offices in Madrid, Milan, Athens, San Francisco, Austin, Philadelphia, Mumbai, New Delhi, Cairo, Melbourne, Amsterdam, Bath, Belfast and Dublin. The company is a subsidiary of BP.
History
The company was founded in 2010 as Lightsource Renewable Energy.{{cite web |url=https://www.lightsourcebp.com/2022/03/shiny-panels-and-a-sure-thing-nicks-story/ |title=Shiny panels and a sure thing, Nick's story |date=March 2022 |publisher=Lightsource BP |accessdate=3 September 2022 }} In 2011, the company's first solar park was established in Truro. It consists of more than 5,000 panels that can generate enough electricity to supply 430 homes in the area.{{cn|date=December 2017}} In 2013, Lightsource completed a 5 MW rooftop solar PV installation at Bentley Motors' factory in Crewe.{{Cite news|url=https://www.bloomberg.com/news/videos/b/9a47e175-beae-4e86-ae10-132262c110db|title=Bentley, Lightsource in Rooftop Solar Power Project|agency=Bloomberg|access-date=19 August 2016|archive-url=https://web.archive.org/web/20160812164129/http://www.bloomberg.com/news/videos/b/9a47e175-beae-4e86-ae10-132262c110db|archive-date=12 August 2016|url-status=dead}}
In 2016, the company launched Europe's largest floating solar project at the Queen Elizabeth II Reservoir, in Walton-on-Thames.{{cite news|title=Europe's largest floating solar farm powers up|url=https://www.telegraph.co.uk/news/earth/energy/renewableenergy/12200484/Europes-largest-floating-solar-farm-powers-up.html|archive-url=https://web.archive.org/web/20160322070408/http://www.telegraph.co.uk/news/earth/energy/renewableenergy/12200484/Europes-largest-floating-solar-farm-powers-up.html|url-status=dead|archive-date=22 March 2016|accessdate=19 August 2016|newspaper = The Telegraph| date = 22 March 2016 | first = Alastair | last = Good}}
In 2016, Lightsource completed the Crookedstone Solar Farm, in County Antrim, Northern Ireland, which provides a third of the Belfast International Airport's electricity needs.{{Cite news|url=http://www.belfasttelegraph.co.uk/business/news/solar-farm-to-provide-third-of-belfast-international-airports-power-34727720.html|title=Solar farm to provide third of Belfast International Airport's power| date = 19 May 2016 | first = John | last = Mulgrew | newspaper = Belfast Telegraph |access-date=19 August 2016}}
In 2017, BP acquired a 43% stake in the company by investing $200 million.{{Cite news|url=https://www.bloomberg.com/news/articles/2017-12-15/bp-agrees-to-invest-200-million-in-solar-power-developer|title=BP Re-Enters Solar Power Market With $200 Million U.K. Deal|date=15 December 2017|access-date=19 December 2017|agency=Bloomberg}} The company was subsequently renamed Lightsource BP. At the same year, the company established teams in North America, the Netherlands and India.
In 2018, the company completed its first international installation, a 60 MW solar farm in Maharashtra, India. Lightsource BP won the offtake contract through a 450 MW tender process. The project comprises 200,000 LONGi Solar photovoltaic panels ground-mounted across {{convert|240|acre}}. In that year, Lightsource BP also signed a 25-year power purchase and asset acquisition agreement with Mid-Kansas Electric Company in Stanton County, Kansas, United States.{{cn|date=September 2020}}
In 2018, Lightsource BP formed EverSource Capital, a partnership with Everstone Group to create a major fund management platform for green energy infrastructure in India. The launch fund for EverSource Capital was the Green Growth Equity Fund, which has a fundraising target of £500 million and joint anchor investments from the UK Government and the India's National Investment and Infrastructure Fund, with a commitment of £120 million each.{{cn|date=September 2020}} Also in 2018, the company formed a joint venture Lightsource BP Powered by Hassan Allam Utilities in Egypt with HA Utilities, the utilities subsidiary of Hassan Allam Holding.{{cn|date=September 2020}}
In 2019, BP increased its stake in Lightsource BP to 50%.{{Cite web|title=Lightsource BP to accelerate global solar growth with further investment from BP |url=https://www.bp.com/en/global/corporate/news-and-insights/press-releases/lightsource-bp-to-accelerate-global-solar-growth-with-further-investment-from-bp.html|access-date=25 April 2021|website=bp global|language=en}}
In 2022 Lightsource BP raised $A540 million to develop two new zero emission projects in the Australian states of New South Wales and Victoria.{{Cite web |date=9 December 2022 |title=Lightsource bp secures $540m funding for solar developments |url=https://www.afr.com/companies/energy/lightsource-bp-secures-540m-funding-for-solar-developments-20221209-p5c522 |access-date=9 December 2022 |website=Australian Financial Review |language=en}}
The company is 50% owned by Bp Alternative Energy Investments Limited,{{Cite web |title=LIGHTSOURCE BP RENEWABLE ENERGY INVESTMENTS LIMITED persons with significant control - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/09494479/persons-with-significant-control |access-date=6 April 2023 |website=find-and-update.company-information.service.gov.uk |language=en}} which in turn is owned by BP International Ltd.{{Cite web |title=BP ALTERNATIVE ENERGY INVESTMENTS LIMITED persons with significant control - Find and update company information - GOV.UK |url=https://find-and-update.company-information.service.gov.uk/company/05998019/persons-with-significant-control |access-date=6 April 2023 |website=find-and-update.company-information.service.gov.uk |language=en}} In November 2023, bp announced an agreement to acquire full ownership of Lightsource BP, subject to regulatory approvals, to close in mid-2024.{{Cite web |title=bp agrees to take full owner of Lightsoure BP|url=https://www.bp.com/en/global/corporate/news-and-insights/press-releases/bp-agrees-to-take-full-ownership-of-lightsource-bp.html |access-date=7 January 2024| website=bp.com |language=en}} Lightsource bp was fully acquired by bp in 2024.{{Cite web |title=About|url=https://lightsourcebp.com/about/ |access-date=19 June 2025| website=lightsourcebp.com |language=en}}
Operations
As of 2018, Lightsource BP has commissioned 1,300 MW of solar capacity and manages about 2,000 MW of solar capacity. It plans to increase the capacity up to 8,000 MW through projects in the Americas, India, Europe and the Middle East.
Alongside funding, developing, constructing and connecting solar installations across the globe, Lightsource BP provides operations and maintenance, and asset management services to solar assets owners in the UK and beyond.{{cn|date=September 2020}}
References
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