Onshore renewables

Lightsource BP delivers its first Indian utility scale solar project in partnership with UK Climate Investments

17 June 2018

Lightsource BP, a global leader in the development, financing and operation of solar energy projects, is pleased to announce the completion of a renewables project in Maharashtra, India.

The project was financed in partnership with UK Climate Investments (UKCI), a joint venture between the Green Investment Group and the UK Government’s Department for Business Energy and Industrial Strategy (BEIS).

The commissioning of the 60 MWp solar farm in Wagdari, Maharashtra marks a significant milestone for Lightsource BP as its first utility solar asset commissioned in India.

The project is one of the first to be completed from this vintage of Solar Energy Corporation India (SECI) tenders and in line with the Power Purchase Agreement time schedule.

Construction, photovoltaic modules, and technical expertise for the project were provided by Sterling & Wilson and LONGi Solar. Project finance was provided by Rabobank.

 

"As set out in our Clean Growth Strategy, the UK is a world leader in reducing emissions while growing our economy, and the Government is determined to capitalise on the opportunities created by the global transition to low carbon.

I am delighted that UK Climate Investments is working alongside London-based Lightsource BP to leverage the UK’s expertise in solar and support India’s ambitions for renewable energy.

The UK has a track record of exporting our home-grown expertise to the rest of the world and this partnership is a perfect example of the public and private sectors working together to deliver our respective climate, development and growth objectives that will benefit the entire planet."

Claire Perry
Energy and Clean Growth Minister

 

"The success of this project is a testament to Lightsource BP’s ability to deliver. The project was developed in-house, and required the support of both our central and local teams working together in close partnership to bring it to fruition."

Nick Boyle
Chief Executive Officer, Lightsource BP

 

"Official commissioning of the site is a major milestone towards providing clean electricity for around 75,000 homes in the Maharashtra region. UK Climate Investments is proud to have worked with Lightsource BP in their first solar project in India, bringing together private sector expertise and catalytic climate finance funding to support India’s transition towards a low carbon economy."

Richard Abel
UKCI Managing Director

Media enquiries

UKCI

+44 20 3037 4014
mediaEMEA@macquarie.com

About UK Climate Investments

UKCI is a £200 million pilot investment programme mandated to invest in India and sub-Saharan Africa. It targets transformational green energy investments where UKCI capital can mobilise additional private sector capital on a sustainable basis to promote cleaner, greener growth in these developing economies. UK Climate Investments LLP (UKCI) is a joint venture between the Green Investment Group and the UK Government’s Department for Business, Energy and Industrial Strategy. It forms part of the UK aid funded International Climate Finance, which is a UK Government commitment to support emerging markets and developing countries to respond to the challenges and opportunities of climate change. For further information, please visit: www.greeninvestmentgroup.com/funds/international/ and www.gov.uk/guidance/international-climate-finance.

 

About Macquarie Infrastructure and Real Assets

Macquarie Infrastructure and Real Assets (MIRA) is one of the world’s leading alternative asset managers. For more than twenty-five years, MIRA has partnered with investors, governments and communities to manage, develop and enhance assets relied on by more than 100 million people each day. As at 31 March 2019, MIRA managed approximately £99 billion in assets that are essential to the sustainable development of economies and communities, including; 155 portfolio businesses, 600+ properties and ~4.7 million hectares of farmland.

MIRA is a part of Macquarie Asset Management, the asset management arm of Macquarie Group, a diversified financial group providing clients with asset management and finance, banking, advisory and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie employs more than 15,700 people in 30 markets. For further information, please visit: www.MIRAFunds.com.

 

About Lightsource BP

Lightsource BP is Europe’s leading solar energy company and a global market leader in the development, acquisition and management of large-scale solar energy projects, as well as smart energy solutions. Through its integrated platform, ground-breaking structured finance, in-house engineering excellence and dedicated O&M division, Lightsource plays a pivotal role in driving the future global energy mix. The company also boasts some of the best talent in the industry, with a team of over 300 specialists in seven offices across three continents. www.lightsourcebp.com.