Lightsource bp Secures 10 Power Purchase Agreements in 2024, Expanding Global Renewable Energy Reach

Lightsource bp Secures 10 Power Purchase Agreements in 2024, Expanding Global Renewable Energy Reach

(IN BRIEF) In 2024, Lightsource bp secured 10 power purchase agreements (PPAs) totaling 1.3GW across Europe, the Americas, and APAC, highlighting its strong presence in the renewable energy market. The company has partnered with major global corporations like H&M Group, Microsoft, LyondellBasell, and Google to meet their renewable energy procurement goals. Lightsource bp’s success is attributed to its Power Markets team, which tailors PPA solutions for diverse buyer needs. A notable project involved creating a collective virtual PPA for the Fashion Pact, which allowed 12 fashion brands to access renewable energy through a multi-buyer structure. Looking ahead, Lightsource bp is advancing a 500MW solar and storage portfolio in Iberia and exploring further opportunities across the United States and APAC, with a 58GW solar and storage development pipeline.

(PRESS RELEASE) LONDON, 19-Feb-2025 — /EuropaWire/ — Lightsource bp, a leading force in the development and operation of utility-scale renewable energy projects, has marked a significant achievement in 2024 by securing 10 power purchase agreements (PPAs) totaling 1.3GW across key regions, including Europe, the Americas, and APAC. This milestone highlights the company’s robust track record and expertise in providing renewable energy solutions that cater to the varying needs of both corporate and utility customers globally.

The global renewable energy market continues to expand as energy buyers increasingly prioritize cost-effectiveness and resilience. Lightsource bp has secured PPAs with major global corporations like H&M Group, Microsoft, LyondellBasell, and Google, all of which have committed to ambitious renewable energy procurement targets. These agreements underscore the growing demand for flexible and customized corporate PPAs that align with both business objectives and long-term sustainability goals.

A key factor in Lightsource bp’s success is the specialized experience of its in-house Power Markets team, which consistently tailors and innovates PPA solutions to meet specific buyer needs, leveraging the company’s vast global reach and extensive project pipeline.

An example of Lightsource bp’s innovative approach is its creation of a collective virtual PPA (CVPPA) in late 2023. This initiative was done in partnership with the Fashion Pact, a leading CEO-led sustainability initiative in the fashion industry. The CVPPA featured a custom multi-buyer structure linked to Lightsource bp’s solar portfolio in Spain, catering to 12 major fashion brands. This structure allowed these brands, which didn’t individually require large volumes of electricity, to collectively access competitively priced renewable energy. The contract was finalized swiftly, with all parties signing within months, demonstrating the success of this efficient approach to renewable power procurement.

Zosia Riesner, Global Chief Commercial Officer for Lightsource bp, remarked, “The achievement of securing 10 PPAs totaling 1.3GW across six markets in just one year demonstrates our ability to deliver high-quality, scalable energy solutions that meet the growing demands of energy buyers worldwide. Over the past five years, our team has signed PPAs in 12 countries, including the most recent in Portugal, underscoring our extensive experience across Europe, the United States, Australia, and New Zealand.”

She added, “Innovation is at the heart of our strategy. Our team’s deep expertise in structuring and assessing diverse partner requirements, spanning multi-buyer, virtual, physical, and hybrid contracts, positions us to actively market renewable projects across Spain, Portugal, the US, UK, and Australia, while continuing to support current customers and forge new partnerships.”

Looking ahead, Lightsource bp’s global portfolio continues to advance, offering fresh opportunities for energy buyers. In the first quarter of 2025, the company will make available a 500MW utility-scale solar and storage portfolio in Iberia—a region renowned for its high solar irradiation and competitively priced solar power. Additionally, the company is advancing opportunities across the United States, including in the SPP, MISO, and ERCOT regions, and is exploring further opportunities in Asia, particularly in South Korea, Taiwan, Japan, and expanding its footprint in Australia and New Zealand.

With a global solar and storage development pipeline of 58GW, encompassing both mature and early-stage projects, Lightsource bp continues to position itself at the forefront of the renewable energy market. For more information about procuring renewable power from Lightsource bp, visit their website.

Media Contact:

info@lightsourcebp.com
Tel: 03332000755

SOURCE: Lightsource bp