As energy buyers around the world increasingly prioritise cost competitiveness and energy resilience, the renewable energy market continues to grow.
To date, Lightsource bp has signed contracts with major global corporations such as H&M Group, Microsoft, LyondellBasell and Google, which have committed to ambitious renewable energy procurement targets.
These contracts demonstrate the growing demand for flexible and tailored corporate PPAs that align with business operational strategies and long-term sustainability goals. Lightsource bp"s continued success is due to the highly specialised expertise of its in-house Power Markets team, able to innovate, adapt and deliver PPAs that meet the specific needs of off-takers, leveraging Lightsource bp"s global reach and international portfolio of renewable energy projects.
For example, in late 2023, the company led the creation of a collective virtual power purchase agreement (CVPPA) with The Fashion Pact , the largest CEO-led initiative for sustainability in the fashion and textile industry.
This agreement included a customised multi-buyer structure, linked to Lightsource bp"s solar portfolio in Spain to meet the needs of 12 fashion brands.
All parties signed the contract within months, creating an equitable platform for members of the initiative to access renewable energy at competitive prices.
This multi-buyer PPA structure acts as a collective agreement, meaning that companies that do not necessarily require large volumes of electricity on their own can combine their demand and find a simple and efficient way to access renewable energy.
"Securing these 10 renewable PPAs linked to a 1.3GW portfolio across six markets in a single year demonstrates our ability to provide high-quality energy solutions at scale, while meeting the demands of energy buyers around the world.
In the last five years alone, our team has signed PPAs in 12 countries, most recently in Portugal, spanning key markets in Europe, the US, Australia and New Zealand, demonstrating the breadth and depth of our expertise," said Zosia Riesner, Global Commercial Director at Lightsource bp.
"Innovation is key, and our team has deep experience in assessing partner requirements across a wide range of structures, geographies and timeframes, including multi-buyer, virtual, physical and hybrid contracts.
We are actively marketing renewable projects in Spain, Portugal, the US, the UK and Australia, whilst continuing to support our current clients and building new future partnerships to drive renewable energy solutions and PPAs.
Looking ahead to 2025, Lightsource bp"s global portfolio continues to advance, creating immediate opportunities for power buyers.
This quarter we have made a 500MW utility-scale solar and storage portfolio available for PPAs in the Iberian Peninsula, a region that benefits from high solar irradiance and where solar remains the most price competitive.
Additionally, we are advancing opportunities in multiple US markets including SPP, MISO and ERCOT, while in APAC the team is exploring additional opportunities in the Asian market to complement operations in South Korea, Taiwan and Japan, while strengthening our reach in Australia and New Zealand.
Lightsource bp has a global development pipeline of 58 GW, spanning both mature and early-stage projects.