bp

Lightsource BP has completed a US$460 million financing package that will enable the construction of 368MW of solar power in the US.

Solar player enlists oil major BP, HSBC, Natwest and Bank of America as it raises US$250m package to sponsor project northeast of Dallas, set to trade energy with BP.

BP has said the promising “fundamentals” behind the current global solar market triggered it to re-enter and the petrol giant now has ambitious plans for worldwide growth.

BP is to acquire a 43% stake in prolific UK-based solar developer Lightsource in what stands to be a significant new solar partnership.