Release date: 18 July 2018
The 60 mega watts peak (MWp) solar site in Wagdari, Maharashtra, marks a significant milestone for Lightsource BP as it is the company’s first utility solar asset to be commissioned in the country.
The project is financed in partnership with UK Climate Investments (UKCI), a joint venture that includes the UK Government’s Department for Business Energy and Industrial Strategy (BEIS), and is the first of a number of tenders that Lightsource BP is progressing with the Solar Energy Corporation India.
The project includes some 200,000 solar photovoltaic panels across a 240 acre site and will provide clean electricity for around 20,000 homes in the region and forms part of Lightsource BP’s strategy to deploy more than 8 gigawatt (GW) of solar capacity globally in the next five years.
The announcement comes nearly two month after it was announced that Lightsource BP had entered into a joint-venture to manage green infrastructure funds throughout India. The Green Growth Equity Fund (GGEF) aims to bring up to $1 billion dollars of investment into India through contracted power, distribution infrastructure and energy services.
Lightsource was formed in 2010, and in December 2017 rebranded to Lightsource BP when BP acquired a 43% share of the UK-based solar developer. One strand of BP's work to advance the energy transition is to create low-carbon businesses as well as reduce emissions in its operations and deliver improved products.