{"id":254147,"date":"2021-09-20T06:47:23","date_gmt":"2021-09-20T06:47:23","guid":{"rendered":"https:\/\/sandbox.lightsourcebp.com\/news\/lightsource-bp-further-accelerating-growth-now-targeting-25gw-solar-developments-by-2025\/"},"modified":"2023-07-24T09:58:46","modified_gmt":"2023-07-24T09:58:46","slug":"lightsource-bp-further-accelerating-growth-now-targeting-25gw-solar-developments-by-2025","status":"publish","type":"post","link":"https:\/\/sandbox.lightsourcebp.com\/ie\/news\/lightsource-bp-further-accelerating-growth-now-targeting-25gw-solar-developments-by-2025\/","title":{"rendered":"Lightsource bp further accelerating growth, now targeting 25GW solar developments by 2025"},"content":{"rendered":"
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Lightsource bp further accelerating growth, now targeting 25GW solar developments by 2025<\/h1>\n <\/div>\n <\/div>\n <\/div>\n\n
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  • Secures new $1.8 billion credit facility<\/li>\n
  • 500 jobs to be created over the next four years<\/li>\n<\/ul>\n

    Global solar leader Lightsource bp today announced it has secured a new $1.8 billion revolving credit facility and trade finance facility that will help fuel its new global growth strategy of developing 25GW of solar by 2025.<\/p>\n

    The funding, provided by 10 top tier global financial institutions, underpins Lightsource bp\u2019s growth ambitions and execution strategy as it continues to accelerate the deployment of solar across the EMEA, Americas and Asia Pacific regions.<\/p>\n

    Since its formation in 2010, Lightsource has developed 3.8GW of solar projects globally. It is now aiming to drive this total to 25GW of developed projects by 2025 fed by its expanding development pipeline.<\/p>\n

    The Lightsource bp pipeline continues to grow rapidly through greenfield, co-development and acquisition opportunities. This growth is expected to create over 500 new jobs within Lightsource bp over the next four years.<\/p>\n

    In addition to this 20GW-plus pipeline Lightsource bp is also developing a 9GW portfolio exclusively for bp<\/a>.<\/p>\n

    Nick Boyle,<\/strong> group chief executive for Lightsource bp, said:<\/p>\n

    \u201cGlobally, renewable energy is shifting from a mindset of gigawatts to terawatts. Investments are being made by the billion, not the million. And big companies like Amazon, McDonald\u2019s and eBay are switching to clean energy. This trend proves that renewables are mainstream and solar is playing a key role in addressing the climate crisis.<\/p>\n

    \u201cIf we\u2019re going to meet the commitments of the Paris Agreement \u2014 business as usual isn\u2019t going to cut it. Our industry-leading 25GW by 2025 target and the finance package are further proof that Lightsource bp has left business as usual far behind.<\/p>\n

    \u201cAlthough we need to move quickly, we are committed to scaling up safely, sustainably and responsibly \u2014 putting people and the planet at the centre of everything we do.<\/p>\n

    \u201cWe know our plans for growth and job creation are very ambitious, but this is the pace of change we need to move at.\u201d<\/p>\n

    Lightsource bp\u2019s new 25GW target, and strong projected job creation, bolstered by its robust and growing project pipeline, represent the next stage of growth since Lightsource and bp joined forces, fast-tracking the venture\u2019s global expansion, in December 2017.<\/p>\n