Lightsource bp partners with H&M Group to further the growth of renewables

Global solar leader Lightsource bp has today announced that it has entered into a partnership with H&M Group, supporting the fashion retailer on its journey to having a climate positive value chain by 2040 and sourcing 100% renewable electricity in its operations no later than 2030.

The partnership with H&M Group, a global retailer, enables the growth of the renewable sector and will have a positive impact on the local environment through Lightsource bp’s approach to sustainable project development which involves working with environmental and planning experts to ensure its projects benefit local ecosystems and boost biodiversity.

Speaking about the partnership, Zosia Riesner, Lightsource bp’s Director of Power Markets, Europe, commented: “Globally, we are seeing more businesses prioritising renewable energy in their pledges to combat climate change and improve sustainability efforts. We are in a privileged position to be at the forefront of that shift, supporting businesses such as H&M Group to choose renewable energy, a decision which makes good business sense, as well as benefits the environment.”

The sustainability goals of the two organisations are closely aligned, with Lightsource bp’s commitment to transforming into a climate positive business as it continues to grow to 25GW of developed projects by 2025.

About H&M Group

H&M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm. H&M’s business idea is to offer fashion and quality at the best price in a sustainable way. In addition to H&M, the group includes the brands COS, Monki, Weekday, & Other Stories, H&M HOME and ARKET as well as Afound. The H&M group has 53 online markets and approximately 4,900 stores in 75 markets including franchise markets. In 2020, net sales were SEK 187 billion. The number of employees amounts to approximately 153,000. For further information, visit hmgroup.com.