Lightsource bp
A global solar-energy developer, owner and operator that became a wholly owned bp subsidiary in 2024.
Last updated October 16, 2026
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Overview
Lightsource bp is a United Kingdom-based solar-energy development company headquartered in London. Established in 2010 as Lightsource Renewable Energy, it built its business around the development, financing, construction and operation of utility-scale photovoltaic projects. Its activities have also included operations and maintenance, asset management and the arrangement of long-term electricity offtake agreements for solar assets. The company's early growth was concentrated in the United Kingdom. Its first solar park was established near Truro in 2011, using more than 5,000 panels and supplying electricity equivalent to the needs of approximately 430 homes. In 2013, Lightsource completed a 5 MW rooftop photovoltaic installation at Bentley Motors' manufacturing site in Crewe. The project demonstrated the company's ability to deliver commercial and industrial solar installations in addition to ground-mounted generation. Lightsource expanded its technical and project portfolio in 2016. It launched what was described at the time as Europe's largest floating-solar project at the Queen Elizabeth II Reservoir near Walton-on-Thames. In the same year, it completed the Crookedstone Solar Farm in County Antrim, Northern Ireland, a project reported to provide roughly one-third of Belfast International Airport's electricity requirements. A major ownership and internationalization phase began in 2017, when bp invested $200 million for a 43% interest. The company subsequently adopted the Lightsource bp name. During that year it established teams in North America, the Netherlands and India, providing a platform for expansion beyond the British and European markets. bp later increased its holding to 50% in 2019. The company completed its first international installation in 2018: a 60 MW solar farm in Maharashtra, India. The project was awarded through a 450 MW tender process and used approximately 200,000 ground-mounted photovoltaic panels across about 240 acres. Lightsource bp also signed a 25-year power-purchase and asset-acquisition agreement with Mid-Kansas Electric Company for a project in Stanton County, Kansas. Its activities extended beyond direct project development. In 2018, Lightsource bp formed EverSource Capital with Everstone Group, an investment-management platform focused on Indian green-energy infrastructure. The platform's first Green Growth Equity Fund had a £500 million fundraising target and received joint anchor commitments from the UK Government and India's National Investment and Infrastructure Fund. In Egypt, Lightsource bp formed a solar joint venture with Hassan Allam Utilities, the utilities arm of Hassan Allam Holding. By 2018, the company had commissioned approximately 1,300 MW of solar capacity and managed roughly 2,000 MW. It stated an ambition to expand its project portfolio to 8,000 MW across the Americas, India, Europe and the Middle East. In 2022, it raised A$540 million for two zero-emission projects in New South Wales and Victoria to support its Australian expansion. In November 2023, bp announced an agreement to acquire the remaining ownership of Lightsource bp, subject to regulatory approvals. The transaction completed in 2024, making Lightsource bp a wholly owned bp subsidiary. The brand continues to represent bp's large-scale solar development and operations platform, with a business model spanning project origination, financing, construction, ownership, operations and long-term asset management.
History
Lightsource bp began operations in 2010 under the name Lightsource Renewable Energy. Founded by Nick Boyle, the company developed a specialization in large-scale solar photovoltaic generation and initially built its presence in the United Kingdom. Its first solar park was established near Truro in 2011. The installation contained more than 5,000 panels and was reported to generate enough electricity for approximately 430 homes. The company broadened its project capabilities in 2013 by completing a 5 MW rooftop solar installation at Bentley Motors' factory in Crewe. This project complemented its ground-mounted development work and showed how its model could serve industrial electricity users. In 2016, Lightsource delivered two projects that illustrated different parts of its expanding portfolio. At the Queen Elizabeth II Reservoir near Walton-on-Thames, it launched a floating solar installation described as Europe's largest of its kind at the time. It also completed Crookedstone Solar Farm in County Antrim, Northern Ireland, which was reported to meet about one-third of the electricity needs of Belfast International Airport. The company's ownership changed materially in 2017. bp invested $200 million and acquired a 43% stake. Following the investment, the business was renamed Lightsource bp. The relationship gave Lightsource access to a major energy company's capital and international reach, while allowing it to retain its identity as a specialist solar developer. In the same year, the company formed teams in North America, the Netherlands and India, marking a deliberate move beyond its original British and European base. International project delivery followed in 2018. Lightsource bp completed a 60 MW solar farm in Maharashtra, India, after securing an offtake contract through a 450 MW tender. The project used approximately 200,000 LONGi Solar panels mounted across around 240 acres. In the United States, the company signed a 25-year power-purchase and asset-acquisition agreement with Mid-Kansas Electric Company for a project in Stanton County, Kansas. These agreements reflected a business approach based not only on constructing solar facilities but also on securing long-term revenue arrangements and asset ownership. Lightsource bp also expanded into investment and partnership structures. In 2018 it formed EverSource Capital with Everstone Group to create a green-energy infrastructure fund-management platform in India. The first fund, the Green Growth Equity Fund, was planned with a £500 million fundraising target and received joint anchor commitments from the UK Government and India's National Investment and Infrastructure Fund. The company also created a joint venture in Egypt with Hassan Allam Utilities, the utilities subsidiary of Hassan Allam Holding. By 2018, Lightsource bp had commissioned approximately 1,300 MW of solar capacity and managed roughly 2,000 MW. It set out plans to increase capacity to as much as 8,000 MW through projects in the Americas, India, Europe and the Middle East. Its service scope included development, funding, construction, grid connection, operations and maintenance, and asset management for solar installations. bp increased its ownership to 50% in 2019. In Australia, Lightsource bp raised A$540 million in 2022 to support two zero-emission projects in New South Wales and Victoria. In November 2023, bp announced an agreement to acquire the remaining ownership of the company. After the required approvals, the transaction was completed in 2024, and Lightsource bp became wholly owned by bp. The company therefore evolved from an independent British solar developer into bp's dedicated large-scale solar platform while continuing to operate under the Lightsource bp brand.
- 2024
Becomes wholly owned by bp
[1]bp completed its acquisition of the remaining ownership interests, subject to the relevant approvals.
- 2022
Australian project financing raised
[1]The company raised A$540 million for two zero-emission projects in New South Wales and Victoria.
- 2019
bp ownership reaches 50%
[1]bp increased its ownership interest in Lightsource bp to 50%.
- 2018
First international installation completed in India
[1]Lightsource bp completed a 60 MW photovoltaic farm in Maharashtra after winning an offtake contract through a 450 MW tender.
- 2017
bp takes a major minority stake
[1]bp invested $200 million for a 43% interest, after which the company adopted the Lightsource bp name.
- 2016
Floating solar project launched at Queen Elizabeth II Reservoir
[1]The company launched a floating solar project described at the time as Europe's largest.
- 2016
Crookedstone Solar Farm completed
[1]The County Antrim project was completed and reported to supply roughly one-third of Belfast International Airport's electricity needs.
- 2013
5 MW Bentley Motors rooftop project completed
[1]Lightsource completed a 5 MW rooftop photovoltaic installation at Bentley Motors' Crewe factory.
- 2011
First solar park established near Truro
[1]The company's first solar park was established near Truro, with more than 5,000 panels and reported output equivalent to the electricity use of about 430 homes.
- 2010
Company founded as Lightsource Renewable Energy
[1]Lightsource Renewable Energy was established in the United Kingdom under the leadership of founder Nick Boyle.
Products and positioning
A global utility-scale solar developer and asset operator combining project origination, financing, construction, long-term operations and renewable-energy investment expertise.
Solar generation · 2010
Utility-scale ground-mounted solar farms
Large photovoltaic facilities are the company's core offering. Lightsource bp develops sites, arranges financing, manages construction and grid connection, and may retain ownership or provide ongoing operational and asset-management services. Its portfolio has included projects in the United Kingdom, India, the United States, Australia and other international markets.
Solar generation · 2016
Floating solar installations
The company has developed floating photovoltaic capacity, including the project at the Queen Elizabeth II Reservoir near Walton-on-Thames. Floating solar uses water-surface space for photovoltaic generation and represents an alternative to conventional land-mounted installations.
Distributed solar · 2013
Commercial and industrial rooftop solar
Lightsource's commercial and industrial work includes rooftop photovoltaic systems designed for large facilities. Its 5 MW installation at Bentley Motors' Crewe factory illustrated the use of on-site solar generation for industrial electricity demand.
Energy services
Solar operations, maintenance and asset management
Alongside development and construction, Lightsource bp provides operations and maintenance and asset-management services for solar assets. These services support the long-term performance, administration and commercial operation of photovoltaic projects owned by the company or by other asset owners.
Energy investment · 2018
Renewable-energy infrastructure investment platforms
Through structures such as EverSource Capital, the company has participated in platforms intended to raise and manage capital for green-energy infrastructure, particularly in India. This extends its role beyond individual solar-project development into renewable-energy investment management.
Brand decisions
2023
Agree to full bp ownershipM&ABackground
bp already held 50% of Lightsource bp and announced a plan to acquire the remaining ownership interests.
Action taken
bp announced an agreement to acquire full ownership, subject to regulatory approvals.
Aftermath
The acquisition completed in 2024, making Lightsource bp a wholly owned bp subsidiary.
2018
Create green-energy investment and regional joint-venture platformsStrategyBackground
Lightsource bp sought to expand beyond individual solar developments and increase access to renewable-energy infrastructure capital in emerging markets.
Action taken
The company formed EverSource Capital with Everstone Group in India and established a joint venture with Hassan Allam Utilities in Egypt.
Aftermath
The structure broadened the company's activities into fund management and regional partnerships in addition to project development.
2017
Accept bp's minority investment and rename the businessM&ABackground
Lightsource Renewable Energy was seeking to expand its solar-development platform internationally. bp invested $200 million for a 43% stake.
Action taken
The company accepted bp as a major shareholder and subsequently changed its trading name to Lightsource bp, while expanding teams into North America, the Netherlands and India.
Aftermath
The investment strengthened the company's international expansion and was followed by bp increasing its holding to 50% in 2019.
bp investment. $200 million (2017)
Recent events
- 2024
Lightsource bp becomes wholly owned by bp[1]
M&A
The previously announced acquisition was completed, making Lightsource bp a wholly owned bp subsidiary.
- 2023
bp announces agreement to acquire full ownership of Lightsource bp[1]
M&A · Leadership change
bp announced an agreement to purchase the remaining interests in Lightsource bp, subject to regulatory approvals, with completion expected in 2024.
- 2022
Lightsource bp raises A$540 million for Australian projects[1]
Other
The company raised A$540 million to develop two zero-emission projects in New South Wales and Victoria.
- 2019
bp raises its ownership of Lightsource bp to 50%[1]
M&A
bp increased its interest in the solar developer from its original minority position to 50%.
- 2018
Lightsource bp completes its first international solar installation in India[1]
Product launch
The company completed a 60 MW solar farm in Maharashtra after winning an offtake contract through a 450 MW tender process.
- 2018
Lightsource bp and Everstone establish EverSource Capital[1]
M&A
The partners created a green-energy infrastructure fund-management platform in India, with the Green Growth Equity Fund targeting £500 million.
- 2017
bp acquires a 43% stake in Lightsource Renewable Energy[1]
M&A
bp invested $200 million for a 43% interest in the solar developer. The transaction was followed by the adoption of the Lightsource bp name and an expansion of teams into North America, the Netherlands and India.
Sources5 sources
- 1Lightsource bpen.wikipedia.org
- 2Lightsource bp official websitelightsourcebp.com
- 3Lightsource bp closes financing package for US solar farmsenergyglobal.com
- 4Lightsource BP Secures $1.8B Credit Facilityrigzone.com
- 5NextEnergy acquires 100MWp from Lightsource BP in £64.3m deal - Solar Power Portalsolarpowerportal.co.uk
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