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In December 2019, just over two years since we first announced our partnership with bp, we made a further announcement – we’ve equalised our shareholdings in Lightsource bp to create a simplified 50:50 joint venture structure.
A new structure for a brighter future
To support our ambitious drive towards 10GW of developed assets and accelerate our growth, bp purchased newly-issued equity in Lightsource bp. bp is now an equal partner in the business with the balance of shares continuing to be held by management and staff. All strategic decisions are still being made jointly by the two shareholder groups, with an equal division of nominees on the Lightsource bp Board.
The story so far…
In the two years since bp’s first investment, Lightsource bp’s activities have expanded from five to 13 countries. It has signed major projects across Europe, the Americas and Australia and has built a development pipeline in excess of 12GW. We’ve signed PPAs with impressive names across the globe, from Penn State University to AB InBev, brewers of Budweiser, as well as several deals with bp themselves. We’re expanding into new territories and working hard to achieve our goal of a low-carbon future worldwide.
For more information, see our press release.