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Lightsource BP Expands Its Renewable Energy Project With A Major Sale

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  • This project has spread across New South Wales, Queensland, and Victoria
  • Lightsource BP is exploring additional investment opportunities

Lightsource BP has successfully sold its five utility-scale solar photovoltaic (PV) projects with an equity value totaling A$813 million.

Beijing Energy International Australia (BJEI Australia) has achieved ownership of a 1,037MWdc solar portfolio in this project. Wellington and West Wyalong are already involved in this project, while Wellington North and Wunghnu are anticipated to commence operations in the second half of 2024.

This project has spread across New South Wales, Queensland, and Victoria in Australia and is projected to generate approximately 2,230 gigawatt-hours (GWh) of clean energy annually. This means powering over 380,000 households and mitigating over 1,695,000 metric tons of CO2 emissions yearly.

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Adam Pegg, Managing Director of Lightsource BP APAC said, “There have been a number of headwinds facing the renewable industry over the past five years, and I am proud that to date we have been able to develop quality projects and deliver value in Australia. Lightsource BP’s strength lies in facilitating the shift towards sustainable energy by leveraging our capability and expertise in solar development to support the expansion of renewable portfolios in Australia and around the world. We will use the proceeds from this sale to accelerate the development of our pipeline across the APAC region, advancing exciting projects in New Zealand, Taiwan, and South Korea, and continuing to be a leader in Australia.

Lightsource BP is also exploring additional investment opportunities in the sector, considering wind, battery storage, and integration with green hydrogen production as potential avenues for future growth.

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Nitisha Dubey
Nitisha Dubey
Nitisha Dubey is a journalist at EFY. She focuses on startups and innovations with a deep interest in new technologies and business models.

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