Lightsource BP Empowers Small Businesses with Collective Solar Energy Initiative

In a groundbreaking move, Lightsource BP is opening doors for smaller businesses to tap into the advantages of solar energy through a European multi-buyer corporate power purchase agreement (PPA). This innovative initiative focuses on a portfolio of solar assets slated for construction in Spain, set to commence in 2024.

Lightsource BP, a prominent global solar developer, boasts a robust pipeline exceeding 35GW of solar projects in various stages of development across the globe. The company’s prowess in the corporate PPA market is underscored by successful negotiations spanning diverse scales and industries, ranging from local manufacturing enterprises to multinational technology giants.

Smaller businesses often encounter challenges in securing long-term renewable power contracts due to their comparatively lower electricity demand. Recognizing this hurdle, Lightsource BP has introduced a collective PPA framework. Tailored to aggregate the demand of businesses with smaller energy needs, this initiative draws upon the company’s extensive experience in crafting bespoke agreements. The goal is to empower these smaller firms to navigate the complexities of price volatility while simultaneously contributing to climate change mitigation. Beyond simplifying access to renewable energy for smaller users, this model actively supports the expansion of new solar capacity.

Zosia Riesner, Director of Power Markets at Lightsource BP, expressed enthusiasm about the initiative, stating, “This an exciting opportunity to spread the benefits of solar to a wider group of beneficiaries. We’ve seen some of the world’s largest businesses using PPAs to benefit from the affordable and predictable pricing of renewables while supporting the energy transition’s continuing momentum. Our collective PPA approach can share those benefits to companies with far lower energy usage while enjoying the scale delivered by a solar portfolio from our 1GW pipeline in late stage of development in Spain.”

This initiative comes on the heels of Lightsource BP’s inaugural collective PPA in Spain, inked with The Fashion Pact.