Lightsource bp, a solar project developer, secured around TWD 6 billion (~$200 million) in financing for its 115 MWp fishery solar project in Budai and Yizhu Township, Chiayi County, Taiwan.
The project’s construction is expected to begin in June 2025. The Budai project is expected to produce 180,000 MWh of renewable energy annually once operational.
Lightsource bp is collaborating with GreenRock Energy, a local project developer, for the development and fishery management of the project. Shihlin Electric & Engineering Corporation, a Taiwanese electric manufacturer, is the engineering, procurement, and construction contractor for the project.
The financing for the projects was secured by Bank SinoPac Company, Crédit Agricole Corporate and Investment Bank, Taipei Branch, CTBC Bank, DBS Bank (Taiwan), KGI Bank, and MUFG Bank, Taipei Branch.
Bin Fu, Head of Taiwan at Lightsource bp, said: “Taiwan is at a crucial stage in its energy transition. Our team is honored to bring world-class solar expertise to Taiwan and support it in achieving its 2050 Net-Zero Emissions goal. With the backing of our banking partners, Project Budai represents a significant milestone in our growth, highlighting our commitment to being a long-term partner for Taiwan and its communities.”
Adam Pegg, Chief Operating Officer for Asia-Pacific (APAC) at Lightsource bp, commented: “The APAC region is forecast to see exponential growth in renewable energy, and our goal is not merely to participate but to be a renewable energy leader across the region. Project Budai showcases Lightsource bp’s ability to adapt and evolve, positioning our business to capitalize on new opportunities and drive long-term success in APAC.”
This solar project marks Lightsource bp’s first fishery solar venture, which combines solar power generation with aquaculture, also known as aquavoltaics, where solar panels are installed above fishponds.
In February, Lightsource bp 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.
According to Mercom’s Q1 2025 Solar Funding and M&A report, funding for large-scale solar projects increased by 27% in Q1 2025 compared to Q1 2024.
