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Renewable Energy Sector Will Receive Billion-Dollar Investment Through Lightsource BP. The Goals Have Been Set By The Company, Aiming To Develop More Solar Energy Projects And Expand To More Countries
Lightsource BP, the largest solar energy company in Europe, announced this Monday, the 20th, that it will lead a billion-dollar investment and develop 25 GW in renewable energy. The beneficiaries of this new project will be Africa, Europe, the Americas, the Middle East, the Pacific, and Asia. In total, €1.5 billion will be invested so that these continents can generate even more clean energy, benefiting other companies as well as the population.
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Solar Energy Company Has Projects That Can Benefit The Planet
In order for the investment to reach this amount, Lightsource BP counted on the participation of the ten largest financial companies worldwide. Among them, we can mention: BNP, Canadian Imperial Bank of Commerce, Lloyds, Mitsubishi UFJ Financial Group, Natwest, Santander, SocGen, Sumitomo Mitsui Banking Corporation, Toronto Dominion, and Wells Fargo.
At the same time it is producing this new project, the solar energy company has others that are in development, such as the exclusive portfolio of 9 GW for BP. Thus, since it was founded in 2010, Lightsource BP has been significantly responsible for contributing to the renewable energy sector by developing 3.8 GW of solar energy.
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For the first time in history, 900 quilombola and riverine families in Marajó will have electricity — teams take solar panels by boat to communities without roads.
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In 80 years building 22 thousand dams, Brazil impacted more than 4 million people — and the law approved in 2024 to protect those affected has not yet come into effect.
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“The renewable energy sector is moving away from thinking in gigawatts and starting to think in terawatts. Investments are in the billions and not just millions. And large companies like Amazon, McDonald’s, and eBay are adopting clean energy. This trend proves that renewable energies are starting to occupy a dominant position and solar energy is playing a prominent role in combating the climate crisis,” reported the CEO of the company, Nick Boyle.
So Far, The Goals Of Lightsource BP Involve Reducing The Emission Of Gases Responsible For Climate Change
The main objective is to try to comply with the agreement made in Paris, so that companies emit less polluting gases that cause harm to the planet. In return, Lightsource has set a goal to install an additional 25 GW by 2025 to faithfully meet the agreement. Investments to achieve this goal will be raised alongside the projects already underway.
At the moment, the solar energy venture has a more centralized operation in the markets of Portugal, Spain, and Italy. In the United States, its portfolio includes nearly 10 GW, where 1.9 GW are being constructed or have been implemented in the last 18 months. Besides the countries already mentioned, the company won an energy auction held in Greece, marking the start of its new journey in the Greek renewable energy market.
Unfortunately, the company has not yet disclosed which countries will receive this investment over the next four years. Given this, it is impossible to inform whether Brazil will be on the list or not. The expectation is that with the visibility and growth of renewable energy, especially solar energy in the country, Lightsource BP will take this increase into consideration and consider the possibility of a potential project in our territory.
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