Lightsource BP is to set up a new local team and base in Berlin, marking the company’s entry into Germany.
The move brings Lightsource BP’s European footprint to 10 countries; the majority of markets opening after Lightsource and BP joined forces in a 50:50 JV just five years ago.
Germany’s federal government recently recognised a significant booster is required for the expansion of renewable energy technologies across the country, with a target of 215GW of solar by 2030.
Today there are only 66.5GW.
In total, the country is aiming to provide 80% of its electricity demand from wind and solar by 2030.
Leveraging its international experience and scale, Lightsource BP believes it can make a significant contribution to the urgently needed transformation of the German electricity market.
The targets mean annual solar installations will need to reach 22GW, a challenge in a very fragmented market.
Lightsource BP said it has already proven its ability to scale-up fast, building out teams and project pipelines rapidly in France, Poland, Portugal and Greece in recent years.
By 2030, Lightsource BP intends to develop 300MW to 400MW of solar system capacity in Germany every year.
For comparison, the total output of the largest German nuclear power plant is 1400MW and that took eight years for the construction phase alone.
Nick Boyle, chief executive of Lightsource BP said: “Germany needs the power transition and the recent decisions by Economics Minister Robert Habeck can ensure the right framework conditions.
“Lightsource BP works and thinks in gigawatts and has launched corresponding projects very quickly and reliably in many other European countries.
“This is now also our ambition for Germany – as a reliable partner for municipalities, landowners and energy companies who are just as ready as we are to deliver on a large scale.”
In addition to project development, Lightsource BP also manages the implementation, operation and asset management of gigawatt scale portfolios of solar systems.
It is also building out global energy storage capabilities to enable the faster and deeper rollout of renewables on the grid.