Lightsource bp, a solar project developer, announced the acquisition of a 15 MWp solar project in Hokkaido, Japan, from an undisclosed seller. The company did not disclose the financial details of the transaction.
This acquisition marks Lightsource bp’s entry into Japan’s renewable energy market as well as further expansion in the Asia-Pacific region.
Adam Pegg, Chief Operating Officer for APAC at Lightsource bp, commented, “Our entry into Japan reflects our commitment to contributing to the region’s energy transition. By combining our international experience with local partnerships, we aim to support Japan’s renewable energy goals while building a strong and sustainable pipeline of renewable energy projects. This is just the beginning of our operations in Japan, and we’re excited to support the nation’s ambition for a low-carbon future.
“As a global organization, our success depends on fostering collaboration and creating long-term value for the communities we work with,” Pegg added. “We’re committed to building partnerships in Japan that deliver shared benefits – for the economy, the environment, local communities, and our partners.”
The company currently has a development pipeline of more than 58 GW comprising mature and early-stage projects, of which 8 GW are in the Asia-Pacific.
According to Mercom’s Annual and Q4 2024 Solar Funding and M&A report, 217 large-scale solar project acquisitions totaling 37.7 GW were transacted in 2024, compared to 231 transactions totaling 45.4 GW in 2023.
Last year in August, the company also announced the sale of the 49.9 MWac Tiln Farm solar and co-located 25 MW/50 MWh (two-hour duration) energy storage project to Schroders Greencoat, an investment manager dedicated to renewable infrastructure.
Last year, JERA Nex, a renewable energy company headquartered in London and launched by JERA, also announced the acquisition of two solar projects with a total capacity of 395 MW from Lightsource bp.
