{"id":254184,"date":"2019-05-13T14:00:19","date_gmt":"2019-05-13T14:00:19","guid":{"rendered":"https:\/\/sandbox.lightsourcebp.com\/news\/cdpq-and-lightsource-bp-form-150m-solar-financing-platform\/"},"modified":"2024-08-19T09:51:58","modified_gmt":"2024-08-19T09:51:58","slug":"cdpq-and-lightsource-bp-form-150m-solar-financing-platform","status":"publish","type":"post","link":"https:\/\/sandbox.lightsourcebp.com\/uk\/news\/cdpq-and-lightsource-bp-form-150m-solar-financing-platform\/","title":{"rendered":"CDPQ and Lightsource BP Form \u00a3150m Solar Financing Platform"},"content":{"rendered":"
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CDPQ and Lightsource BP Form \u00a3150m Solar Financing Platform<\/h1>\n <\/div>\n <\/div>\n <\/div>\n\n
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Caisse de d\u00e9p\u00f4t et placement du Qu\u00e9bec (CDPQ), a long-term institutional investor, and Lightsource BP today announced a debt investment of \u00a3150\u00a0million (CA$260\u00a0million), to finance a portfolio of solar assets owned and managed by Lightsource BP. Lightsource BP is a global leader in the funding, development and long-term operation of solar projects.<\/p>\n

The facility will initially be used to finance a diversified portfolio composed of over 100 solar projects located across various countries and totalling more than 700\u00a0MW. Over time, the facility could expand with further investment from CDPQ funding assets developed through the Lightsource BP pipeline.<\/p>\n

This partnership aligns perfectly with CDPQ\u2019s investment strategy in addressing climate change through low-carbon investments. Alongside Lightsource BP, it invests in solar projects, an asset class that will continue playing a key role across the energy transition landscape.<\/p>\n

Founded in 2010, Lightsource BP has established operations across EMEA, APAC and the Americas, supported by an in-house team of over 350 specialists. With over 2 GW of solar capacity currently under management, Lightsource BP\u2019s ambition is to become the world\u2019s first global solar brand, targeting around 10 GW in the next 5 years.<\/p>\n

\u201cWe\u2019re very proud to be partnering with CDPQ. This platform marks the beginning of a very exciting opportunity for both companies as it supports both Lightsource BP\u2019s ambition to become a world leading owner and operator of solar assets and CDPQ\u2019s commitment towards sustainable investing. We intend to grow the platform and seek further funding for assets to be developed over the next few years\u201d, said Paul McCartie, Group Chief Investment Officer, Lightsource BP.<\/p>\n

\u201cLightsource BP has high-quality assets and has built itself an enviable positioning in its industry, and CDPQ is thrilled to support the company in its global development,\u201d said Marc Cormier, Executive Vice-President, Fixed Income. \u201cThis transaction is perfectly aligned with CDPQ\u2019s willingness to participate in the energy transition, primarily by investing in low-carbon assets, as we have just increased our investment target for these assets by 2020.\u201d<\/p>\n

CDPQ announced at the end of March that it had raised its 2020 low-carbon asset under management target from $26 billion to $32 billion. This initiative is part of CDPQ\u2019s investment strategy to address climate change and capture opportunities from the transition to a low-carbon economy. CDPQ also aims to reduce its carbon footprint by 25% per dollar invested by 2025.<\/p>\n\n <\/span>\n <\/div>\n <\/div>\n <\/div>\n\n

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