Lightsource BP secures a further US $1.8 billion credit

Lightsource BP, a global solar leader, secures a new US $1.8 billion credit and trade finance facility that will help fuel its new global growth strategy of developing 25GW of solar by 2025, the company said in a statement on Monday.

The secured funding which is provided by 10 top tier global financial institutions will help Lightsource to accelerate the deployment of solar across the EMEA, Americas and Asia Pacific regions. 

“If we’re going to meet the commitments of the Paris Agreement — business as usual isn’t going to cut it. Our industry-leading 25GW by 2025 target and the finance package are further proof that Lightsource BP has left business as usual far behind," said Nick Boyle, group chief executive for Lightsource BP.

Since its formation in 2010, Lightsource has developed 3.8GW of solar projects globally. The company wants to drive its total to 25GW of developed projects by 2025 fed by its expanding development pipeline.

"This trend proves that renewables are mainstream and solar is playing a key role in addressing the climate crisis," added Boyle.