Overlay
Enterprise

Climate stories: Lightsource bp

Supporting our customers and the UK to transition to net zero: read the latest in our series of climate stories, featuring our customer Lightsource bp

About the business

Lightsource bp is a global solar leader and 50:50 joint venture partner with BP, working with utilities, businesses, local communities, and governments to help meet the rising demand for affordable, reliable, and sustainable energy.

As a leading developer, financier, and operator of utility-scale solar, Lightsource bp has been building and growing meaningful partnerships across the energy transition for over a decade. Headquartered in London with activities across nineteen regions, Lightsource bp has developed 8.8GW of solar projects globally, supported by a team of over 1,000 specialists worldwide.

What was the climate opportunity or challenge the business faced?

Lightsource bp approached NatWest Group to support the expansion of one of its key solar platforms, financing the construction and operation of a strong pipeline of subsidy-free assets and consolidating operational roof-mounted installations into its portfolio.

 

How did NatWest Group help?

NatWest Group participated in a bilateral solar deal to finance the construction, acquisition and operation of a portfolio of both ground and roof-mounted solar photovoltaic assets located around the UK, including Northern Ireland – the vast majority developed, owned and operated by Lightsource bp directly. 

 

What were the outcomes?

This expansion was the fifth evolution of Lightsource bp’s growth platform, which now stands at 145MW of capacity, enough to power approximately 50,000 UK homes with renewable electricity.

Disclaimer:

This article is for media use only and is not a financial promotion.

This announcement is published by NatWest Group plc (together with its subsidiaries “NatWest Group”), for information and reference purposes only and is intended to provide non-exhaustive, indicative and general information only, it does not purport to be comprehensive, and it does not provide any form of legal, tax, investment, accounting, financial or other advice. Recipients should make their own independent evaluation of this information and no action should be taken, solely relying on it. NatWest Group makes no representation or warranty (express or implied) of any kind, as regards the accuracy or completeness of this information, nor does it accept any responsibility or liability for any loss or damage arising in any way from any use made of or reliance placed on, this information.

This article does not constitute an offer to buy or sell, or a solicitation of an offer to buy or sell any investment, nor does it constitute an offer to provide any products or services that are capable of acceptance to form a contract. NatWest Markets and each of its respective affiliates accepts no liability whatsoever for any direct, indirect or consequential losses (in contract, tort or otherwise) arising from the use of this material or reliance on the information contained herein. However this shall not restrict, exclude or limit any duty or liability to any person under any applicable laws or regulations of any jurisdiction which may not be lawfully disclaimed.

Finance is subject to status. Security may be required. Product fees may apply.

For more information on our activity on climate, environment, social and governance matters, please see NatWest Group’s 2022 Climate-related Disclosures Report (PDF 9.7MB) and NatWest Group’s 2022 Environmental, Social and Governance Supplement (PDF 9.6MB)

scroll to top