Lightsource BP Sells 5 PV Projects To BJEI Australia

Lightsource BP To Use AUD 813m Sale Proceeds To Speed Up APAC Renewable Assets Growth

Lightsource BP Sells 5 PV Projects To BJEI Australia

Managing Director of Lightsource bp APAC, Adam Pegg, said that the development and sale of these projects validates Lightsource bp’s ability to deliver a meaningfully contribution to the energy transition. (Photo Credit: Lightsource bp)

  • Lightsource bp sells 1,037 MWdc PV projects to BJEI Australia
  • 3 of the sold projects are already in operation, while 2 will be operational by 2024
  • These projects will power about 380,000 households and curb 1.6 million metric tons of carbon emissions

Sealing a sales deal with Beijing Energy International Australia (BJEI Australia), British solar power projects developer Lightsource bp said that it has sold the company 5 utility-scale solar photovoltaic (PV) projects worth an equity value of AUD 813 million.

Located in New South Wales, Queensland and Victoria in Australia, these projects amount to a 1,037 MWdc solar portfolio. Out of this, the Wellington, West Wyalong and Woolooga projects are already in operation, while the Wellington North and Wunghnu projects are expected to be operational by the latter half of 2024.

Put together, these projects will produce approximately 2,230 GWh of clean energy annually, which will power about 380,000 households and curb 1.6 million metric tons of carbon emissions.

Talking about this development, Managing Director of Lightsource bp APAC, Adam Pegg, said: “There have been a number of headwinds facing the renewable industry over the past five years, and I am proud that to date we have been able to develop quality projects and deliver value in Australia. Lightsource bp’s strength lies in facilitating the shift towards sustainable energy by leveraging our capability and expertise in solar development to support the expansion of renewable portfolios in Australia and around the world. We will use the proceeds from this sale to accelerate the development of our pipeline across the APAC region, advancing exciting projects in New Zealand, Taiwan, and South Korea, as well as continuing to be a leader in Australia.”

Since entering Australia in 2018, Lightsource bp has developed and financed over 1 GW of projects, and over 7.5 GW of projects are currently under development.

Meanwhile, last month, Lightsource bp invited European corporates to join its collective PPA model for its projects in Spain (see Lightsource BP Launches New Collective PPA Framework)

About The Author

Meena Nair

MARKETING COMMUNICATIONS MANAGER Meena Nair comes with a diverse experience of journalism and Corporate Communication. At TaiyangNews, she is responsible for social media research and marketing, and promotion of TaiyangNews Conferences and Webinars. -- Email: [email protected] --

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