Lightsource BP Secures 757MW Deal for Polish Solar Projects
October 19 2021 - 7:28AM
Dow Jones News
By Joe Hoppe
BP PLC's Lightsource BP said Tuesday that it has secured its
first nine solar projects in Poland through a 757-megawatt
co-development deal.
The solar energy company, which is 50% owned by BP, said the
total capital expenditure to bring the entire pipeline to fruition
could reach 500 million euros ($580.7 million), with around half of
the projects ready for construction in 2022.
Once operational the projects will provide enough to power the
equivalent of 362,870 homes, and will provide a stable foundation
for Lightsource's long-term plans for Poland.
Some of the power will be sold on the open market, and
Lightsource said it was actively seeking large companies to
contract long-term power purchase agreements.
The projects--which are in Zachodnio-pomorskie, Lubuskie,
Dolnoslaskie and Wielkopolskie--will also participate in future
Polish renewable energy auctions, and will be developed with a
local renewable energy company.
The company had said on Sept. 20 it secured a $1.8 billion
credit facility to develop 25 gigawatts of solar power generation
capacity by 2025.
"Entering the Polish marketplace is a significant milestone for
us, and we have done so with a sizeable portfolio. The scope for
growth in solar is huge, as renewables will be required to double
their share on the grid in a short space of time," international
business development director Vlasios Souflis said.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
October 19, 2021 07:13 ET (11:13 GMT)
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