The global solar energy leader Lightsource bp announced on September 21 that it has obtained a new $1.8 billion revolving credit facility and trade financing facility, which will help promote its new global growth strategy to develop 25GW of solar energy by 2025. The funding provided by 10 top global financial institutions supports Lightsource bp's growth ambitions and execution strategy as it continues to accelerate solar deployment in Europe, the Middle East and Africa, the Americas and the Asia-Pacific region.

Since its establishment in 2010, Lightsource has developed 3.8GW solar projects worldwide. Its current goal is to increase the total capacity of development projects to 25GW through an expanding development pipeline by 2025. The Lightsource bp pipeline continues to grow rapidly through new construction, joint development and acquisition opportunities. This growth is expected to create more than 500 new jobs within Lightsource bp in the next four years.

In addition to this pipeline of more than 20GW, Lightsource bp has also developed a 9GW product portfolio specifically for bp. Nick Boyle, CEO of Lightsource bp Group, said: "Globally, renewable energy is shifting from gigawatts to terawatts. Investments are in billions, not millions. Amazon, McDonald's, and eBay, etc. Companies are turning to clean energy. This trend proves that renewable energy is the mainstream, and solar energy plays a key role in responding to the climate crisis."

"If we are to fulfill the promise of the Paris Agreement-business as usual will not cut it. Our industry-leading 25GW target and financing plan for 2025 further proves that Lightsource bp has fallen far behind business as usual. Although we need to act quickly , But we are committed to scaling up safely, sustainably and responsibly-putting people and the planet at the center of everything we do. We know that our growth and job creation plans are very ambitious."

Accelerate global expansion

Lightsource bp’s new 25GW target, and strong expected job creation supported by a strong and growing project pipeline, represent the next phase of growth since Lightsource and bp joined forces in December 2017 to fast track the joint venture’s global expansion.

bp natural gas and low carbon executive vice president Dev Sanyal added: "In the four years since we founded Lightsource bp, its footprint has tripled and its number of employees has doubled. The speed and breadth of this expansion proves this. The power of this partnership and the value of an integrated energy company with global influence. Combine it with the drive and delivery of Lightsource, and this is where the magic happens."

"Lightsource bp has developed more than 30 projects, and now the return on these projects has been between 8% and 10%. Therefore, when people ask us if we are really capable of achieving what we call the return, the answer cannot be clearer. ——Yes, we can, because we do have the ability to continue to deliver Lightsource bp and continue to grow. Frankly, we like it because it works."

Keywords: new energy, international engineering news, foreign engineering project information

In 2021, Lightsource bp has significantly increased its business in many major European markets including Spain, Italy and Portugal, and announced that it won a major auction and entered the Greek market. In the United States, the company is rapidly growing into one of the largest solar developers, with a portfolio of nearly 10GW in the United States, of which more than 1.9GW has entered operation or construction in the past 18 months. In addition, after acquiring from 7X Energy, Lightsource bp is developing a 9GW solar pipeline specifically for bp. Since 2017, Lightsource bp has expanded its global footprint from 5 countries/regions to 15 countries/regions and increased its number of employees from 300 to 600, creating and filling approximately 200 during the pandemic Job position.Editor/Baohongying