As energy buyers worldwide increasingly prioritize cost competitiveness and energy resilience, the renewable energy market continues to grow. To date, Lightsource bp has contracted with leading global corporations such as H&M Group, Microsoft, LyondellBasell and Google, which have committed to ambitious renewable energy procurement targets.
In late 2023, the company spearheaded the creation of a collective virtual PPA (CVPPA) with the Fashion Pact, the largest CEO-led initiative for sustainability in the fashion and textile industry. This included a bespoke multi-buyer structure, linked to Lightsource bp’s solar portfolio in Spain to meet the needs of 12 fashion brands.
This enabled the contract to be signed by all parties within months and created an equitable platform for the initiative’s members to access competitively priced, renewable power. This multi-buyer PPA structure acts as a collective deal, meaning businesses that don’t necessarily require huge volumes of electricity on their own can combine their demand and find a simple and efficient way to access renewable power.
“Securing these 10 renewable PPAs linked to a portfolio of 1.3GW across six markets in a single year highlights our ability to provide high-quality energy solutions at scale, while meeting the evolving demands of energy buyers worldwide,” said Zosia Riesner, Global Chief Commercial Officer for Lightsource bp.
“Innovation is key, and our team has deep expertise in assessing partner requirements across a diverse range of structures, geographies, and tenures, including multi-buyer, virtual, physical, and hybrid contracts. We are actively marketing renewable projects across Spain, Portugal, the US, UK, and Australia while we continue to support our existing customers and build new future partnerships to advance renewable energy solutions and PPAs.”
Lightsource bp has a global solar and storage development pipeline of 58GW, spanning both mature and early-stage projects.
