Lightsource bp

What Lightsource bp does

Lightsource bp is a global independent power producer (IPP) and wholly-owned subsidiary of bp that develops, finances, constructs, and operates utility-scale onshore solar, wind, and battery energy storage projects, with 11.9GW developed historically and a 58GW+ pipeline across 20+ countries. The company was founded in 2010 as Lightsource Renewable Energy, expanded internationally from 2015, partnered with bp in 2017 (taking the Lightsource bp name), and was fully acquired by bp in mid-2024. Operations span Europe (UK, Ireland, Spain, France, Germany, Italy, Netherlands, Poland, Portugal, Greece), the Americas (US, Brazil, Trinidad & Tobago), and Asia-Pacific (Australia, New Zealand, South Korea, Taiwan), supported by offices in London (headquarters), Athens, Madrid, San Francisco, São Paulo, Sydney, Seoul, and Taichung. Lightsource bp ranks as the largest renewable developer in the UK (11,800+ MW) and #2 US solar developer.

The company sells renewable electricity via long-term Power Purchase Agreements (PPAs), virtual PPAs (VPPAs), and hybrid offtake contracts to corporate, utility, government, and industrial customers, with marquee offtakers including Toyota (231MW VPPA, Texas), Microsoft (Poland PPA), McDonald's (145MWac, Louisiana), Rio Tinto (40% of Lower Wonga output), Penn State University (70MW), and bp itself (Impact Solar, Texas). Project economics are increasingly bundled with battery storage, exemplified by Lower Wonga (380MWdc solar + 281MW/843MWh BESS), Goulburn River (49MW/562MWh 8-hour duration), and a dedicated Data Center Solutions product line. Lightsource bp also pursues agrivoltaics (since 2013) and proprietary hail mitigation technology recognized by the World Economic Forum, with 88% of 2024 projects carrying Biodiversity Management Plans.

Revenue is generated through a hybrid of development fees, project financing, construction management, long-term asset management, and the sale or refinancing of operational portfolios (e.g., the 1GW Australian portfolio sale to Aula Energy), supplemented by contracted PPA cash flows on retained assets. Pricing is negotiated bilaterally per project with no public tiering. The company operates under joint venture structures in some markets (e.g., 49.99% Petrobras stake in Brazilian subsidiaries; Contact Energy JV for Kōwhai Park, New Zealand) and has executed project financings exceeding $2B in aggregate across Greece, Portugal, Texas, Arkansas, Australia, and the US. As a private subsidiary, Lightsource bp does not disclose standalone revenue and was the subject of a $3.5 billion write-down by bp in 2025 as the parent pivoted capital toward oil and gas.

Name

Lightsource bp

Legal name

Lightsource bp Renewable Energy Investments Limited

Website

https://www.lightsourcebp.com/

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Lightsource bp is a global, bp-owned independent power producer developing, constructing, and operating utility-scale onshore solar, wind, and battery storage projects across 20+ countries, selling renewable electricity via long-term PPAs and hybrid offtake contracts to corporate, utility, and industrial customers.

Ownership category

akta.pro rank

Product category

Utility-scale renewable energy generation

NAICS

Solar Electric Power Generation (221114), Electric Power Generation, Transmission and Distribution (2211), Electric Power Generation (22111)

SIC

Electric Services (4911)

akta.pro primary industry

Solar Project Development & IPP (Utility-Scale & Rooftop) (EUAMABAA)

akta.pro secondary industries

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB), Solar Balance-of-Plant EPC (Piles/Foundations, Trenching, Combiner Networks) (EUAEADAJ), Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy) (EUAMAAAE), Utility-Scale Generator PPAs (Project Offtake) (EUAGADAB), Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB), Substations, Transformers & Grid Step-Up Facilities (EHV Substations, GSU Transformers) (EUAMAFAE), Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK)

Keywords

• Utility-scale solar development
• Battery energy storage systems
• Renewable power purchase agreements
• Onshore wind energy projects
• Agrivoltaics dual-use solar

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Power Purchase Agreements (PPAs / VPPAs): Lightsource bp signs long-term Power Purchase Agreements (PPAs) and virtual PPAs (VPPAs) with corporate, utility, and industrial customers to supply renewable electricity from its projects. Revenue is generated through contracted offtake over typically 10–25 year terms. In 2024, the company secured 10 PPAs totalling 1.3GW across Europe, the Americas and APAC.
2. Project Development, Construction & Asset Management: Lightsource bp develops, finances, constructs, and operates utility-scale solar, wind and storage projects. Revenue is earned through development fees, construction management, and ongoing asset management services over the project lifecycle. Projects are either retained for long-term operation or divested to institutional investors.
3. Hybrid Energy Solutions: Bundled solar-plus-storage and hybrid offtake agreements combining renewable generation with battery storage to deliver reliable, dispatchable renewable power to large industrial customers (e.g., Rio Tinto).

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels8 records

Core offering

Lightsource bp develops, finances, constructs and operates utility-scale onshore solar, wind and battery energy storage projects across 20+ countries, delivering gigawatts of renewable capacity to corporate, utility and government customers through long-term Power Purchase Agreements (PPAs), virtual PPAs (VPPAs) and bilateral offtake contracts. Core offerings also include hybrid solar-plus-storage solutions, agrivoltaics dual-use projects, dedicated data center power solutions, and asset management services for the operational portfolio.

Product overview

Lightsource bp is a leading global independent power producer (IPP) offering end-to-end onshore renewable energy and battery storage solutions. The company's core offerings include the development, construction, and operation of utility-scale solar, wind, and battery storage projects delivered through its integrated platform. The portfolio consists of Solar Development/Construction/Operations, Wind Development/Construction/Operations, Battery Storage Solutions, and Hybrid Renewable Projects combining these technologies. Services include Energy Solutions (power purchase agreements and long-term partnerships), Data Center Solutions, Agrivoltaics (dual-use land solutions), and Asset Management Services. The company operates across Europe, Americas, and Asia-Pacific regions with a stated development track record, active markets, and construction/operational portfolio capacity.

Differentiator

Problem solved

Functional benefit

Products and services

• Solar Development, Construction & Operations End-to-end development, construction management, and long-term operation of utility-scale onshore solar PV projects, delivering gigawatts of renewable energy capacity to corporate, utility, and government customers worldwide.
• Wind Development, Construction & Operations Development, construction management, and operation of utility-scale onshore wind projects as part of Lightsource bp's expanding renewable energy portfolio.
• Battery Storage Solutions Development and operation of utility-scale battery energy storage systems (BESS) integrated with solar and wind projects to provide dispatchable renewable capacity, grid flexibility, and long-duration storage (e.g., 8-hour Goulburn River 49MW/562MWh system).
• Hybrid Renewable Projects Integrated solar, wind, and battery storage projects delivered within a single development to combine renewable generation with storage and deliver reliable, low-cost, dispatchable power (e.g., Lower Wonga 380MWdc solar + 281MW/843MWh BESS in Queensland).
• Energy Solutions (PPAs and long-term partnerships) Flexible commercial renewable energy solutions for corporate and utility customers delivered through long-term Power Purchase Agreements (PPAs), virtual PPAs (VPPAs), and bilateral offtake contracts typically structured over 10–25 year terms.
• Data Center Solutions Rapid renewable power solutions with proven reliability tailored specifically for data center energy needs, delivered at pace with flexible commercial arrangements to meet 24/7 carbon-free power requirements.
• Agrivoltaics (AgriPV) Dual-use land solutions combining utility-scale solar energy generation with agricultural activities including sheep grazing, arable farming, and aquavoltaics (fisheries), maximizing land utilization while delivering diversified income for landowners and rural communities. Lightsource bp has practiced agrivoltaics since 2013.
• Asset Management Services Comprehensive portfolio management services covering monitoring, performance analysis, rapid response, and detailed reporting for operational renewable energy assets across the company's global portfolio.

Quantifiable outcome

• 1.3GW of PPAs signed across Europe, Americas, and APAC in 2024 (10 PPAs)
• +7 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Ten partnerships are on record, tiered flagship, major and minor.

• Contact EnergyflagshipStrategic or Co-development Partner · 17 June 2026Joint venture between Contact Energy and Lightsource bp for the 150 MW Kōwhai Park solar farm in New Zealand, located behind Christchurch Airport. Approximately 300,000 panels across 230 hectares. Once operational, the facility will generate ~275 GWh annually, powering ~36,000 homes.
• INTEC Energy SolutionsmajorImplementation/ SI/ Consulting Partner · 16 June 2026INTEC Energy Solutions was awarded the lead EPC contract for Lightsource bp's Lower Wonga Solar Farm and Battery Energy Storage System project in Queensland's Gympie region. The hybrid project combines 380MWp solar with 843MWh battery storage. INTEC is also building the 200MW/400MWh Woolooga BESS for Lightsource bp in Queensland.
• Rio TintoflagshipGTM or Marketing Partner · 5 June 2026Lightsource bp signed a hybrid offtake agreement with Rio Tinto combining solar generation with battery storage to deliver reliable renewable power for Rio Tinto's Queensland operations. Rio Tinto takes 40% of Lower Wonga's output and is investing $7.2 billion to transition its Gladstone facilities from coal to green power.
• Gotion Hi-Tech AustraliaminorImplementation/ SI/ Consulting Partner · 5 June 2026Joint venture between INTEC Energy Solutions and Gotion Hi-Tech Australia appointed as EPC partner for the Lower Wonga hybrid project in Queensland.
• PetrobrasflagshipStrategic or Co-development Partner · 21 May 2026Petrobras completed acquisition of a 49.99% equity interest in Lightsource bp's subsidiaries in Brazil, establishing a strategic partnership in onshore renewable energy including energy storage. Shared governance with equal board representation. Lightsource bp contributes the Milagres solar PV plant (212 MWp) and advanced-stage projects; Petrobras contributes engineering, licensing, and regulatory expertise. Pipeline of 1–1.5 GW.
• Toyota Motor North AmericaflagshipGTM or Marketing Partner · 14 April 2026Lightsource bp and Toyota Motor North America signed a 15-year VPPA for 231MW from Jones City 2 Solar Farm in Texas. The VPPA alone could match more than 20% of Toyota's purchased electricity in North America. Jones City Energy Center will have ~700MW total capacity and create ~500 construction jobs.
• Aula EnergyminorGTM or Marketing Partner · 24 February 2026Lightsource bp sold a 1GW operational solar PV portfolio (five projects across NSW, Queensland, and Victoria) to Aula Energy for an undisclosed amount. The sale reflects Lightsource bp's strategic shift toward hybrid renewable projects. Portfolio includes options for 800MW of co-located battery storage.
• EWS and Burgenland Energie AGminorStrategic or Co-development Partner · 21 January 2026Lightsource bp conducted site visits to AgriPV projects across Austria, hosted by EWS and Burgenland Energie AG, to understand integration of solar energy and agriculture. Austria's regulation allows tariff bonuses for solar projects occupying less than 25% of land.
• BoralminorGTM or Marketing Partner · 9 December 2022Lightsource bp signed a power purchase agreement with Boral as part of the AU$540 million green financing for two Australian PV projects (515MW combined) in Victoria and NSW. Boral is an Australian building materials company.
• Green Rock EnergymajorStrategic or Co-development Partner · 12 May 2022Lightsource bp partnered with Green Rock Energy in Taiwan to co-develop a 150MW fishery solar project, marking Lightsource bp's entry into East Asia. The project integrates solar panels with fish farming, creating a dual-use agrivoltaics solution.

Scale indicators14 records

Recent moves7 records

Expansion highlights2 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/lightsourcebp
• YouTubeyoutube.com/user/LightsourceSolar
• LinkedInlinkedin.com/company/lightsourcebp
• Instagraminstagram.com/lightsourcebp

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds9 records

Investors26 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lightsource bp