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Lightsource BP, a global leader in the development, financing and operation of solar energy projects, is pleased to announce the completion of a renewables project in Maharashtra, India.
The project was financed in partnership with UK Climate Investments (UKCI), a joint venture between the Green Investment Group and the UK Government’s Department for Business Energy and Industrial Strategy (BEIS). The commissioning of the 60 MWp solar farm in Wagdari, Maharashtra marks a significant milestone for Lightsource BP as its first utility solar asset commissioned in India. The project is one of the first to be completed from this vintage of Solar Energy Corporation India (SECI) tenders and in line with the Power Purchase Agreement time schedule.
Lightsource BP won the offtake contract through a competitive 450 MW tender process by the Government of India, managed by SECI. The project comprises 200,000 LONGi Solar photovoltaic panels ground-mounted across 240 acres.
Following the announcement, Nick Boyle, Chief Executive Officer of Lightsource BP, commented: “The success of this project is a testament to Lightsource BP’s ability to deliver. The project was developed in-house, and required the support of both our central and local teams working together in close partnership to bring it to fruition.”
Richard Abel, UKCI Managing Director, commented: “Official commissioning of the site is a major milestone towards providing clean electricity for around 20,000 homes in the Maharashtra region. UK Climate Investments is proud to have worked with Lightsource BP in their first solar project in India, bringing together private sector expertise and catalytic climate finance funding to support India’s transition towards a low carbon economy.”
Energy and Clean Growth Minister Claire Perry said: “As set out in our Clean Growth Strategy, the UK is a world leader in reducing emissions while growing our economy, and the Government is determined to capitalise on the opportunities created by the global transition to low carbon. I am delighted that UK Climate Investments is working alongside London-based Lightsource BP to leverage the UK’s expertise in solar and support India’s ambitions for renewable energy. The UK has a track record of exporting our home-grown expertise to the rest of the world and this partnership is a perfect example of the public and private sectors working together to deliver our respective climate, development and growth objectives that will benefit the entire planet.”
Construction, photovoltaic modules, and technical expertise for the project were provided by Sterling & Wilson and LONGi Solar. Project finance was provided by Rabobank.