Lightsource BP enters 50:50 venture with BP plc
The management of Lightsource BP has entered into an agreement with BP plc to equalize their shareholdings in Lightsource BP to create a simplified 50:50 joint venture structure.
As part of the transaction, BP will purchase newly-issued equity in the business to help accelerate Lightsource BP’s growth, supporting its ambitious drive towards 10GW of developed assets by the end of 2023.
In December 2017, BP acquired 43% of Lightsource which was subsequently rebranded to Lightsource BP. With the current deal, BP has agreed to purchase additional equity in Lightsource BP to become an equal partner in the business with the balance of shares continuing to be held by management and staff.
Since new shares will be issued in this transaction, the funds paid by BP to increase its stake will be immediately available to Lightsource BP for investment.
Financial details of the transaction are not being released.
Country updates
-
-
January 30, 2020
Bluefield Solar Income Fund completes purchase of 13.5 MWp solar portfolio in UK
Bluefield Solar Income Fund Ltd (BISF) has completed the purchase of a 13.5 MWp solar portfolio in UK for a total consideration of GBP13.9 million (US$18.2 million). The portfolio includes...
Read more -
January 29, 2020
SSEN seeks approval for 600 MW subsea transmission link
Scottish and Southern Electricity Networks Transmission (SSEN Transmission) has resubmitted to the energy regulator, Ofgem, its investment case (Needs Case) for the proposed 600 MW subsea transmission...
Read more -
January 29, 2020
Edmond De Rothschild closes Bridge IV fund
Edmond De Rothschild Group's fourth infrastructure and energy fund, Bridge IV, has achieved EUR1.25 billion (US$1.38 billion) final close that is well above the initial target of EUR750 million (...
Read more -
January 29, 2020
Foresight reaches EUR342m first close for energy infrastructure fund
Foresight Group has secured total commitments to-date of EUR342 million (US$376.7 million) for its Foresight Energy Infrastructure Partners (FEIP) fund. The Group has secured commitments f...
Read more -
January 28, 2020
National Grid pension invests GBP185m in Octopus Renewables' Renewable Energy Income Partnership III
The National Grid UK Pension Scheme has invested up to GBP185 million (US$242 million) in the Octopus Renewables' Renewable Energy Income Partnership III Fund. The Fund is owned by&nb...
Read more
