We advised BP on its 43% equity investment in Lightsource (now Lightsource BP), the leading solar developer in Europe.
This was a strategically significant transaction for BP, marking its re-entry into the alternative energy market after more than a decade. It involved an investment of US$200m to fund Lightsource's international expansion.
We were delighted to be re-appointed to advise BP on its further investment in global solar developer Lightsource BP to create a 50:50 JV structure between BP and Lightsource management. In the two years since BP’s first investment, Lightsource BP’s activities have expanded from 5 to 13 countries. It has signed major projects across Europe, the Americas and Australia and has built a development pipeline in excess of 12GW. This transaction, on which AG again acted as sole lead adviser, evidences BP's commitment to accelerating global solar growth, and evidences this overall transaction as having been one of the country's most significant solar energy sector investments.