Lightsource BP closes $100 million deal to expand its solar business


Lightsource BP has closed a $100 million deal with solar tracking solutions firm Array Technologies as part of efforts to expand its presence in the solar energy industry.

The deal comprises Lightsource BP acquiring solar tracking equipment.

The investment in single-axis solar tracking equipment was completed in December and is the first phase in the construction of over 1.5GW of large-scale solar projects in the US.

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Lightsource BP and Array Technologies previously partnered on the development of 200MW of solar energy in Australia.

Kevin Smith, Lightsource BP’s CEO of the Americas, said: “We’re pleased that we will have certainty of equipment supply as well as cost savings for our solar projects located across the country.

“Lightsource BP is well-positioned to execute its ambitious plan to deliver more than 4GW in the U.S. by 2023.”

Lightsource BP has an operating portfolio of 2GW of solar projects under its management.