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BP, Shell and Lightsource BP join forces on solar energy

Release date:
9 March 2020
man with solar panels

A consortium of BP, Shell and Lightsource BP has been named as the preferred bidder to supply electricity generation from renewable energy resources in Trinidad and Tobago.

 

The partners joined forces in response to the Trinidad and Tobago Government’s 130 MW Request For Proposal (RFP) for projects to underpin the country’s commitment to the Paris Agreement of achieving 10% of power generation from renewable sources by 2021.

 

The consortium’s proposal will see the development of two solar PV projects; one in collaboration with the University of the West Indies in Trincity and another in Couva in collaboration with the National Energy Corporation. The consortium now looks forward to working with the Government and other stakeholders to finalize the necessary agreements required to bring the project online.

 

The consortium combines the experience of BP and Shell with the expertise of Lightsource BP. BP and Shell each has over a century of operating globally and have a rich history as major operators in Trinidad and Tobago’s energy industry.

 

Lightsource BP, a 50:50 joint venture between Lightsource and BP, is a global solar energy company and a global leader in the financing, development and management of large-scale solar projects. The project is Lightsource BP’s first venture in the Caribbean, and the first time all three of the consortium partners have worked together on a joint project.

 

In submitting the bid, the consortium sought to offer a solution that met the technical requirements of the RFP as well as the need to fit into Trinidad and Tobago’s wider development needs.

 

Claire Fitzpatrick, Regional President, BP Trinidad and Tobago, said: "We are proud to join our partners in the development of Trinidad and Tobago’s first commercial scale renewable energy project. We have been in T&T for over 50 years and are excited by the opportunity to support the country as it transitions to a lower carbon future. By doing so, T&T will continue to make a contribution to the world which needs more energy but produced and used in cleaner, better ways. In pursuing this activity through collaboration, we are able to leverage the strengths of Lightsource BP, BP and Shell for the benefit of T&T.”

 

Eugene Okpere, VP and Country Chair, Shell, Trinidad and Tobago said “We are honoured to join our consortium partners, BP and Lightsource BP in this project, underscoring Shell’s commitment to helping Trinidad and Tobago’s move towards a low-carbon energy future. Our participation aligns seamlessly with our global strategy to promote the energy transition in all of the countries in which we operate, as we strive to find ways to provide more and cleaner energy solutions, while building a strong and sustainable business.”

 

Nick Boyle, CEO, Lightsource BP added: “This consortium represents a major collaboration in bringing solar energy to Trinidad and Tobago. We’re looking forward to working together to further the project and support the government’s renewable energy targets. Our solar projects generate sustainable and cost-competitive power around the world, and we’re excited to apply our expertise in Trinidad and Tobago and play a part in its energy transition.”  

Notes to editors

 

About the consortium partners

 

Lightsource BP is a, global leader in the financing, development, funding and management of solar PV projects. Leveraging a strategic partnership with BP and through its integrated platform, structured finance and in-house engineering excellence, Lightsource BP is helping drive the global energy transition with competitively priced, dependable, sustainable energy for businesses and communities. Headquartered in the UK, Lightsource BP comprises a team of around 500 industry specialists in offices across thirteen countries. For more information visit Lightsourcebp.com, follow us on Twitter @lightsourceBP and Instagram @lightsourcebp or view our LinkedIn page.

 

BP recently announced a new ambition to become a net zero company by 2050 and to help the world get there. The ambition is supported by ten aims and a wide-ranging reorganization. One of the aims includes increasing the proportion of investment into non-oil and gas businesses over time, investing wisely into businesses where BP can add value, develop at scale, and deliver competitive returns. BP is committed to performing while transforming - operating safely and reliably as well as delivering on the promises made to shareholders.

 

Shell aims to build a new value chain through New Energies, leveraging current strengths, acquiring new capabilities, and building portfolio resilience that will help Shell thrive in the energy transition. For Shell, this means growing a material New Energies business over the next five years, focused on building competitive positions in New Fuels & Low Carbon Power. Shell’s focus is on new fuels for transport, such as advanced biofuels, hydrogen and charging for electric vehicles; and power, including from wind, solar and natural gas.

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