Lightsource bp invests A$540 million

Lightsource bp closes $540 million Australian green financing portfolio with ANZ, ING, Mizuho, NORD/LB and Westpac

Share:

Lightsource bp closes $540 million Australian green financing portfolio with ANZ, ING, Mizuho, NORD/LB and Westpac

Two projects in Australia

Lightsource bp announces the start of construction activities on its Wellington North and Wunghnu solar projects. Both projects are located in the Australian region of New South Wales. Adam Pegg, Managing Director of Lightsource bp Australia and New Zealand, says:

“We are proud to have reached financial close on these projects and are pleased with the support of ANZ, ING, Mizuho, NORD/LB and Westpac. This is a fantastic achievement by the Lightsource bp team, and I am grateful for the strong support of our customers, the local communities in which we operate and these lenders. This milestone now allows Lightsource bp to become the leading solar developer and owner in Australia. This is an incredible effort to achieve financial close and construction on 841 MWac/1,037 MWdp since the company’s inception in Australia in 2018.”

The company says Gransolar’s construction of both projects began under advance work agreements in August 2022. In addition, the company indicates that commercial operations will take place in 2022. With its Wellington, West Wyalong and Woolooga projects, the company now has over 1GWdc.

In addition, the company now becomes the leading solar developer and owner in Australia on a MWac basis. Lightsource bp also entered into a power purchase agreement with Boral. This agreement joins the previously announced PPAs with ENGIE, Orica and Mars Australia.

Financing projects

With this production capacity under construction and in operation, Lightsource bp is able to supply approximately 350,000 Australian homes. Aaron Ross, Head of Project and Export Finance, Australia & New Zealand Banking Group, says:

“Lightsource bp’s development of two significant solar assets supports Australia’s energy transition and will boost critical energy supply. The Greenfield renewable projects align with ANZ’s strategy and goal to finance and facilitate A$100 billion of sustainable solutions for customers by 2030.”

Sam Terko, Head of Energy at ING Australia, states:

“We congratulate Lightsource bp on this achievement and are extremely pleased that ING Bank was able to fund all of its projects in the country. ING is committed to supporting clients like Lightsource bp with strong growth ambitions in clean energy that help us maintain our track record as a leader in energy transition financing in Australia.”

Mizuho, with its banking services, confirms ING’s vision of the future. This partnership strengthens Mizuho’s position as one of the leading banks in the renewable market.

Thus, green financing with ANZ, ING and Westpac is structured as a financing loan. The green finance loan is the loan allocation location that creates positive environmental outcomes. In addition, Lightsource bp continues to grow its greenfield solar and battery storage portfolio by more than 4GWdp in Australia and New Zealand.

MPC Energy Solutions has signed an agreement to sell its stake in the Planeta Rica solar project in Colombia. The transaction is expected to close by the end of 2025.
EDF power solutions has commissioned the Aéroparc photovoltaic plant, with a capacity of 42.2 MWp, in the Territoire de Belfort, making a significant contribution to the region's energy transition.
The overproduction of solar energy in Europe is causing a drop in captured prices, undermining the profitability of producers. In Germany, Spain, and France, capture prices are at record lows, with profound economic consequences.
Altarea Energies Renouvelables has started work on its first ground-mounted photovoltaic plant in Caudecoste, marking a new milestone in its development. The 7 MWc plant is expected to be operational by the end of 2025.
Chinese manufacturer JinkoSolar has delivered three energy storage systems totalling 21.6 MWh to the American company Distributed Energy Infrastructure, as part of the Solar Massachusetts Renewable Target (SMART) programme aimed at strengthening local solar infrastructure.
TotalEnergies ENEOS has commissioned two photovoltaic installations totalling 1.2 MWp for marine logistics group Lee Huat Yap Kee in Singapore, under two long-term power purchase agreements with no upfront investment.
TCL Solar has concluded two exclusive partnerships in Suzhou with AU Solar and Madina Solar to supply 250 megawatts of photovoltaic modules to the Pakistani market, addressing rapidly growing local energy demand.
Mitrex secures Guinness Record for the largest integrated solar facade globally, combining photovoltaics and cultural art in Edmonton, covering over 30,000 square feet with installed capacity exceeding 265 kW.
EDF power solutions completes the acquisition of the 500MW Gate Burton solar-battery project from the company Low Carbon, strengthening its presence in hybrid photovoltaic-storage solutions in the United Kingdom.
The global photovoltaic films market is expected to see significant growth, reaching $41.59bn by 2034 due to the development of new solar technologies and the increasing demand for encapsulation suited to these innovations, a recent study indicates.
Italian group Plenitude has begun building Entrenúcleos, a 200 MW photovoltaic plant near Seville, set to deliver more than 435 GWh a year from 2026 while trialling locally produced green steel.
The state-controlled refiner has launched a 7.5-megawatt photovoltaic unit off Qingdao, the country’s first commercial installation designed for fully saline waters, intended to supply its future renewable hydrogen production.
Emerging economies from the BRICS group now account for more than half of global solar electricity production in 2024, driven mainly by China, India, and Brazil, according to a new report by the organisation Ember.
Star Trade, a subsidiary of HD Renewable Energy, has signed a power purchase agreement with Lightsource bp to manage electricity distribution from a 115 MWp solar project located in Chiayi, strengthening their presence in the Taiwanese market.
TotalEnergies will develop a 1.8 MW photovoltaic installation for Daehwa Pharmaceutical, covering approximately 20% of the annual energy requirements of the production site located in Hoengseong-gun, South Korea, under a 20-year agreement.
Quinbrook Infrastructure Partners announces full operational launch of Cleve Hill Solar Park, now becoming the largest active photovoltaic power plant in the United Kingdom with a total installed capacity reaching 373 MW.
European photovoltaic module manufacturer BISOL is integrating G12R solar cells into its product range, replacing the former M10 cells, to improve product performance and technological competitiveness starting from the second quarter of 2025.
Adani Green Energy Limited becomes the first Indian company to achieve 15,539.9 MW of operational renewable capacity, cementing its position among the global top 10 independent green power producers.
Italian group Pronur establishes itself in Saudi Arabia with support from AstroLabs, aiming to provide advanced technologies in the renewable energy sector and develop new industrial partnerships.
Ascent Solar Technologies, Inc. announces the launch of a $2mn public offering to finance working capital, product development and general expenses.