{"id":254217,"date":"2017-07-25T16:04:51","date_gmt":"2017-07-25T16:04:51","guid":{"rendered":"https:\/\/sandbox.lightsourcebp.com\/news\/lightsource-bp-and-blackrock-entered-1-billion-partnership-in-the-uk\/"},"modified":"2023-07-31T10:04:12","modified_gmt":"2023-07-31T10:04:12","slug":"lightsource-bp-and-blackrock-entered-1-billion-partnership-in-the-uk","status":"publish","type":"post","link":"https:\/\/sandbox.lightsourcebp.com\/uk\/news\/lightsource-bp-and-blackrock-entered-1-billion-partnership-in-the-uk\/","title":{"rendered":"Lightsource bp and BlackRock Entered \u00a31 billion Partnership in the UK"},"content":{"rendered":"
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Lightsource bp and BlackRock Entered \u00a31 billion Partnership in the UK<\/h1>\n <\/div>\n <\/div>\n <\/div>\n\n
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London, 25 July 2017 \u2013 Lightsource and BlackRock Real Assets have entered in to a strategic partnership\u00a0which is targeting the acquisition and ownership of\u00a0UK solar power generation assets with an anticipated aggregate enterprise value of \u00a31 billion, representing a total target installed capacity of circa 1GWp. The newly created partnership, called \u201cKingfisher\u201d, aims to consolidate the secondary UK solar market.<\/p>\n

Lightsource has seeded the partnership with a\u00a025 asset newly-constructed ROC and CFD portfolio with an installed capacity of 156 MWp. Lightsource will add a further c. 50MWp of Northern Ireland ROC assets later this year, once operational.<\/p>\n

Going forward,\u00a0Lightsource and BlackRock Real Assets will target the acquisition of operational utility scale solar assets in the UK over a three-year period. Kingfisher has both a levered and unlevered strategy, with the seed assets funded under the levered structure, with RBS providing project finance with an accordion feature for future acquisitions. Kingfisher will look to target both levered and unlevered asset opportunities.<\/p>\n

Lightsource Chief Investment Officer, Paul McCartie, said:<\/p>\n

\u201cWe\u2019re incredibly excited about this partnership with such an established and prestigious investor as BlackRock in the UK. Kingfisher is confirmation of our proven differentiation as a professional partner to institutional capital globally, and ability to create profitable and sustainable investment opportunities in the solar and energy broader market. By leveraging economies of scale, Lightsource can provide cost efficiencies and better returns as we acquire UK solar plants and operate them as part of our growing global portfolio. This is the clear differentiator between Lightsource and many other solar companies\u201d.<\/p>\n

Rory O\u2019Connor, Managing Director and Head of Renewable Power for Europe at BlackRock said:<\/p>\n

\u201cWe are pleased to partner with Lightsource in the creation of this new UK solar portfolio.\u00a0 Over the last two years, we have invested in more than 20 solar projects in the UK representing nearly 150-megawatt of capacity on behalf of our clients, and we believe this market continues to present attractive opportunities for institutional investors. In working closely together with Lightsource as a leading developer and operator of solar projects we are confident to realize a lot of additional potential in the market.\u201d<\/p>\n

BlackRock has a proven track record in the Renewables sector and through its dedicated global Real Assets platform globally manages more than $4.8 billion of equity assets\u00a0in the renewable power sector.<\/p>\n

As part of the agreement, Lightsource will provide long-term operations and asset management services for the platform; building on the company\u2019s experience providing these services for 1.9 GWp of utility scale solar assets in the UK.<\/p>\n

Lightsource were advised by Baker and Mc Kenzie (legal) and Deloitte (tax).<\/p>\n

Read more about the\u00a0Lightsource bp and BlackRock partnership<\/a>.<\/p>\n\n <\/span>\n <\/div>\n <\/div>\n <\/div>\n\n

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News <\/h3>\n <\/div>\n <\/div>\n
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13 Feb, 2026<\/p>\n \n

Hett Moor Solar Farm awarded a contract in UK AR7 renewables auction<\/h5>\n <\/a>\n

Lightsource bp has been awarded a Contract for Difference (CfD) for Hett Moor Solar Farm in the UK Government\u2019s latest renewables auction, AR7.<\/p>\n

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26 Jan, 2026<\/p>\n \n

Farming and energy – working side by side<\/h5>\n <\/a>\n

Sheep grazing on solar farms combines agriculture with solar electricity generation, enabling livestock to graze and crops to grow alongside and beneath solar panels.<\/p>\n

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21 Jan, 2026<\/p>\n \n

Exploring cutting-edge AgriPV innovations during site visits in Austria<\/h5>\n <\/a>\n

Deepening our understanding of how solar energy and agriculture can sustainably coexist at scale by learning from pioneering projects across Austria.<\/p>\n

Read Story <\/svg><\/span><\/a><\/p>\n<\/div>\n <\/div>\n <\/div>\n\n

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