Lightsource bp enters Poland’s solar market with 757MW deal

Lightsource bp

Lightsource bp, the leading solar developer coming from the British oil major, announced that it has entered Poland’s energy market after securing a 757-megawatts co-development deal.

Firstly, the deal includes the development of nine projects portfolio. The projects will be located in the regions of Zachodnio-pomorskie, Lubuskie, Dolnośląskie and Wielkopolskie. According to the statement, Lightsource bp will develop them alongside an experienced local renewable energy firm.

Moreover, the agreement further pushes Poland into its energy transition. It will also spur substantial investment through its renewables market. In fact, the total Capex calculated for the development of the portfolio could reach €500 million.

In addition, Lightsource bp has closely vetted the portfolio, providing valuable insight into the potential of the projects and the Polish solar market. The projects will start construction in 2022. To ensure their development, the projects will compete in upcoming Poland’s renewable energy auctions.

Furthermore, once operational, the projects will provide enough clean electricity to power the equivalent of 362,870 Polish homes. The company also plans to sell power on the open market. Currently, it is also seeking large corporations to contract via long-term power purchase agreements.

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Lightsource bp to play pivotal role in solar expansion in Poland

On the other hand, Lightsource bp’s entrance into the polish market is a true milestone for the company. It is also a gamechanger for Poland, as its solar landscape has significantly grown in recent years. In fact, Poland currently has 6 gigawatts of solar energy installed.

However, the nation is looking to increase its proportion of renewables in final energy consumption. Consequently, Lightsource bp and solar energy developments will play a pivotal role in such a goal.

About such matter, Michal Glowacki, Lightsource bp’s Head of Business Development for Poland, said. “We will focus now on expanding our presence in the country and building on this first deal. Lightsource bp’s goal is to contribute affordable, clean, low-carbon power to Poland’s electricity system at the gigawatt-scale.”

Moreover, Bogdan Kucharski, CEO of bp Poland, remarked on the country’s challenges in regards to the energy transition. He said that Poland will heavily rely on renewable energy sources. Consequently, the company’s role will be pivotal towards that goal.

He finally said. “Lightsource bp is going to develop solar energy for Poland, supporting our country’s national renewable energy target. The goal is to significantly contribute to meeting the growing demand for energy from local and low-carbon solutions.”

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