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<p><a href="https://www.lightsourcebp.com/in/" target="_blank" rel="noopener noreferrer">Lightsource BP</a>, a global renewable energy development firm, has raised £150 million in debt financing from Caisse de dépôt et placement du Québec <a href="http://www.cdpq.com/" target="_blank" rel="noopener noreferrer">(CDPQ),</a> a long-term institutional investor. The funds will be utilized to finance a portfolio of solar assets owned and managed by Lightsource BP.</p>
<p>The funds will initially be used to finance a diversified portfolio consisting of over 100 solar projects located across various countries and totaling more than 700 MW. Over time, the facility could expand with further investment from CDPQ funding assets developed through the Lightsource BP pipeline.</p>
<p>This partnership aligns with CDPQ’s investment strategy in addressing climate change through low-carbon investments. Alongside Lightsource BP, it invests in solar projects, an asset class that will continue playing a key role across the energy transition landscape.</p>
<p>CDPQ announced at the end of March that it had raised its 2020 low-carbon asset under management target from $26 billion to $32 billion. This initiative is part of CDPQ’s investment strategy to address climate change and capture opportunities from the transition to a low-carbon economy. CDPQ also aims to reduce its carbon footprint by 25% per dollar invested by 2025.</p>
<p>“We intend to grow the platform and seek further funding for assets to be developed over the next few years,” said Paul McCartie, Group Chief Investment Officer, Lightsource BP.</p>
<p>In <a href="https://mercomindia.com/cdpq-increases-stake-azure-power/" target="_blank" rel="noopener noreferrer">October 2018</a>, CDPQ announced an increase in its stake in Azure Power Global Ltd (Azure Power), a leading renewable energy project developer and is one of the largest independent solar power producers with a presence in 23 Indian states.</p>
<p>In 2018, Lightsource BP <a href="https://mercomindia.com/lightsource-bp-forms-jv-solar-projects-egypt/" target="_blank" rel="noopener noreferrer">formed a joint venture</a> with HA Utilities, a part of Egyptian construction and engineering group Hassan Allam Holding for the development and long-term operation of solar projects in Egypt.</p>
<p><a href="https://mercomindia.com/lighsource-bp-india-60mw-solar-finance-rabobank/" target="_blank" rel="noopener noreferrer">Recently</a>, Lightsource BP completed its first utility-scale solar project in India. The project has been developed in Wagdari, located in the state of Maharashtra.</p>
<p>Mercom also reported previously that <a href="https://www.lightsourcebp.com/uk/" target="_blank" rel="noopener noreferrer">Lightsource BP</a> and investment firm <a href="http://www.everstonecapital.com/" target="_blank" rel="noopener noreferrer">Everstone Group</a> have teamed up to create a major fund management platform called EverSource Capital for the development of green energy infrastructure in India.</p>
<p>In 2017, Lightsource Renewable Energy and UK Climate Investments, part of the <a href="http://greeninvestmentgroup.com/" target="_blank" rel="noopener noreferrer">Green Investment Group</a> within Macquarie Infrastructure and Real Assets (<a href="http://www.mirafunds.com/" target="_blank" rel="noopener noreferrer">MIRA</a>), entered into an <a href="https://mercomindia.com/lightsource-uk-climate-investments-establish-partnership-fund-indian-solar-projects/" target="_blank" rel="noopener noreferrer">agreement</a> to form a partnership platform to fund the development, acquisition, and ownership of large scale solar power generation assets in India.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/saumy/" class="vcard author" rel="author"><span class="fn">Saumy Prateek</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Saumy Prateek</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/saumy/" target="_blank" rel="noopener">More articles from Saumy Prateek</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="79" height="102" /><a href="https://mercomindia.com/author/saumy/" rel="noopener"><strong>Saumy Prateek, </strong> </a>is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism &amp; Mass Communication from the Manipal Institute of Communication at Manipal University.<a href="https://mercomindia.com/author/saumy/">More articles from Saumy Prateek.</a></div>
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Renewable Development Firm Lightsource BP Raises £150 million to Finance Solar Projects

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