**London**: Lightsource bp has secured 10 power purchase agreements amounting to 1.3 GW globally, catering to major corporations like Microsoft and Google. This achievement underlines the firm’s innovation and adaptability in the growing renewable energy sector, demonstrating its commitment to sustainability and corporate energy resilience.
Lightsource bp, a prominent developer and operator in the realm of utility-scale renewable energy projects, has recently achieved a significant milestone by securing a total of 10 power purchase agreements (PPAs) amounting to 1.3 gigawatts (GW) across Europe, the Americas, and the Asia-Pacific (APAC) regions. This accomplishment signifies the company’s established reputation and expertise in delivering renewable energy solutions that cater to the varying demands of corporate and utility buyers in different global markets.
The renewable energy sector is witnessing continuous growth as energy buyers worldwide increasingly emphasis cost efficiency and energy resilience. Lightsource bp’s portfolio now includes contracts with major global corporations such as H&M Group, Microsoft, LyondellBasell, and Google, who are all pursuing ambitious targets for renewable energy procurement. These agreements highlight the escalating demand for flexible and bespoke corporate PPAs that align with the business strategies and long-term sustainability objectives of these companies.
The company’s success is attributed to the highly specialised experience of its in-house Power Markets team, which is adept at innovating and devising PPAs that specifically address buyers’ needs by leveraging Lightsource bp’s global footprint and extensive renewables project pipeline. In late 2023, Lightsource bp played a pivotal role in establishing a collective virtual PPA (CVPPA) with the Fashion Pact, the largest CEO-led sustainability initiative in the fashion and textile sector. The CVPPA featured a custom multi-buyer structure tied to Lightsource bp’s solar portfolio in Spain, enabling 12 fashion brands to sign the contract expeditiously and access competitively priced renewable energy.
Zosia Riesner, Global Chief Commercial Officer for Lightsource bp, remarked that securing these ten renewable PPAs across six markets within a single year is a testament to the company’s capability to deliver high-quality energy solutions at scale, whilst addressing the dynamic requirements of energy buyers globally. Over the previous five years, Lightsource bp has successfully signed PPAs across 12 countries, most recently in Portugal, thereby showcasing its extensive expertise across key markets in Europe, the United States, Australia, and New Zealand.
The company places a strong emphasis on innovation, utilising its extensive knowledge to evaluate partner needs across various contract structures and geographic landscapes, including multi-buyer, virtual, physical, and hybrid agreements. Presently, Lightsource bp is actively marketing renewable projects in Spain, Portugal, the US, UK, and Australia, all the while continuing to support existing customers and fostering new partnerships to advance the provision of renewable energy solutions and PPAs.
Looking towards 2025, Lightsource bp’s global portfolio is continuously progressing, generating immediate opportunities for energy buyers. This quarter, the company has made available a 500 MW utility-scale solar and storage portfolio for power purchase agreements throughout Iberia, a region known for its high solar irradiation and where solar power remains the most competitively priced energy source.
Furthermore, Lightsource bp is exploring numerous opportunities across various markets in the United States, including the Southwest Power Pool (SPP), Midcontinent Independent System Operator (MISO), and the Electric Reliability Council of Texas (ERCOT). In the Asia-Pacific region, the company is investigating additional market opportunities to enhance its operations in South Korea, Taiwan, and Japan, while simultaneously strengthening its reach within Australia and New Zealand.
With a global solar and storage development pipeline of 58 GW, encompassing both mature and early-stage projects, Lightsource bp continues to establish itself as a significant player in the renewable energy market, actively moving towards a more sustainable future.
Source: Noah Wire Services
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