Lightsource BP Secures $1.8 Billion Credit Facility, Targets 25GW Solar Developments by 2025
20 Settembre 2021 - 9:14AM
Dow Jones News
By Jaime Llinares Taboada
BP PLC's Lightsource bp said Monday that it has secured a $1.8
billion credit facility to develop 25 gigawatts of solar power
generation capacity by 2025.
The solar energy company, which is 50% owned by BP, said the
credit and trade finance facility was provided by ten financial
institutions and underpins its growth ambitions and execution
strategy.
The company said that it is now targeting 25 gigawatts of
developed projects--fully permitted, with construction ready to
begin--by 2025. Lightsource has developed 3.8 gigawatts globally
since its formation in 2010.
Lightsource said its pipeline continues to grow rapidly, and it
expects to create 500 new jobs over the next four years.
"Lightsource bp has developed more than 30 projects, which today
have consistently delivered 8% to 10% returns. So when people ask
if we really have the capability to deliver the returns we talk
about, the answer couldn't be clearer--yes, we can because we are,"
Dev Sanyal, BP's executive vice president of gas and low carbon,
said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
September 20, 2021 02:59 ET (06:59 GMT)
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