Lightsource bp has signed a development agreement with German renewable energy developer Kajoni Energie GmbH to develop a pipeline of over 500 MWp solar. These utility-scale solar projects with a minimum size of 20 MW are expected to come up within the next two to three years.
Furthermore, Kajoni will be responsible for identifying project sites of at least 20 hectares. It will also be responsible for bringing the projects to a ready-to-build status and securing all necessary project rights. Lightsource bp will take full ownership of the projects at this stage once construction begins.
In April 2024, Lightsource bp secured financing for a 560 MW solar project in Greece. The project is planned to be integrated into the grid by 2026 and is projected to generate 0.90 TWh in its initial year of operation.
Lightsource bp entered the German market in 2023 and established an office in Berlin in March 2023. The company’s aim is to become a leading project developer in the German market with plans of setting up 500 MWp of solar projects every year.
REGlobal’s Views: Lightsource bp has been expanding its reach across key European markets including Germany, Italy, Greece, and Poland, as the continent focuses on reducing reliance on natural gas and increasing renewable energy penetration. Germany, itself, has an impressive target to meet 80 percent of its electricity demand from renewables by 2030.
