View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
October 20, 2021

Lightsource BP to co-develop 757MWp solar portfolio in Poland

The solar portfolio will contribute to Poland’s efforts to shift from coal to renewable energy sources.

By Umesh Ellichipuram

UK-based solar energy company Lightsource BP has signed a deal with a Polish renewable energy firm to co-develop a 757MWp solar portfolio in Poland.

The portfolio includes nine projects and will be developed in the Zachodnio-pomorskie, Lubuskie, Dolnośląskie and Wielkopolskie regions.

Lightsource BP International Business Development director Vlasios Souflis said: “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.”

Lightsource BP expects that almost half the projects in the portfolio will be ready for construction by next year.

Once completed, the solar portfolio will have the capacity to power more than 300,000 Polish homes.

Lightsource BP also plans to sell a portion of the renewable energy generated by the solar farms on the open market.

The company is seeking to contract large corporations for long-term power purchase agreements.

It is estimated that a €500m ($581m) capital expenditure would be required to complete the portfolio and bring it online.

The solar portfolio is intended to provide a stable platform for Lightsource BP to execute its long-term gigawatt-scale development ambitions in Poland.

Projects in the portfolio will also participate in future rounds of Polish renewable energy auctions.

Lightsource BP Poland business development head Michal Glowacki said: “We will focus now on expanding our presence in the country and building on this first deal.

“Lightsource bp’s goal is to contribute affordable, clean, low-carbon power to Poland’s electricity system at the gigawatt-scale.”

The project will support Poland in its efforts to shift from coal to renewable energy sources to meet the nation’s electricity needs.

Last month, Lightsource BP shared plans to develop 25GW of solar power capacity by 2025, after securing a $1.8bn revolving credit facility and trade finance facility.

Related Companies

Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU