Lightsource BP is a global leader in the funding, development and long-term management of solar PV projects. Our organisation represents a strategic and powerful partnership which is set to further accelerate the low-carbon transition and boost the growth of solar power worldwide.
Our revenue model is focused on capturing value throughout the life of the asset, integrating in-house development, operational management and asset financing expertise to optimise competitiveness. Our goal is to play a vital role in shaping the future of global energy delivery by deploying at least 8GW of solar capacity worldwide in the next five years, based on a develop and operate strategy.
In March 2013, Lightsource BP successfully installed and connected over 20,000 solar panels, a capacity of over 5MW, on the roof of Bentley Motor’s factory in Crewe. The installations takes up 3.45 hectares of roof space which would otherwise be unutilised, and generates enough energy to power over 1,200 households. At the time of installation, it was three times more powerful than the previous largest roof mounted system in the UK.
At peak generation times, the system produces up to 40% of Bentley’s energy requirements, and reduces CO2 usage by over 2,500 tonnes per year. Bentley Motors buy the green electricity from Lightsource BP via a Power Purchase Agreement (PPA), and the fixed, index-linked unit price secured by the contract mean that Bentley isn’t just saving on carbon emissions, but is also protected against any future fluctuations in the energy market. Hedging against rising fuel prices for several decades is just one of the ways in which a Lightsource BP PPA can benefit businesses.
When the project was completed, the following statements were released:
Michael Straughan, Bentley’s Member of the Board for Manufacturing said “Unlikely as it may seem our 1940s plant in Crewe is ideally situated to generate solar power as the “saw tooth” factory roofs are south facing at an angle of 20 degrees. We take the sustainability of our products and factory extremely seriously and we are always looking for ways to reduce emissions and improve energy efficiency. The panels will reduce our energy costs and help ensure that our manufacturing operations in Crewe are efficient, sustainable and globally competitive.”
Nick Boyle, group CEO of Lightsource BP, said “The installation on Bentley’s factory demonstrates the tremendous potential for solar energy in the UK and is a fantastic example of how businesses can gain greater pricing certainty for the future whilst reducing their carbon footprint. It is also remarkable what can be achieved in a short space of time and with no adverse impact on existing business activity.”