Lightsource BP has launched a collective purchasing framework aimed at facilitating access to clean electricity for smaller and mid-sized businesses. The initiative centers around a European multi-buyer corporate power purchase agreement (PPA) for a forthcoming portfolio of solar assets in Spain, slated to commence construction in 2024.
Recognizing the challenges faced by businesses with lower electricity demand in securing long-term renewable power contracts due to reduced annual energy consumption, Lightsource BP's collective PPA framework addresses this issue. By leveraging the company's extensive experience in crafting bespoke agreements, the initiative aims to empower smaller firms to overcome hurdles related to price volatility while contributing to climate change mitigation.
The model not only simplifies access to renewable energy for businesses with modest energy needs but also plays a role in supporting the development of new solar capacity. Lightsource BP emphasizes that this approach provides an opportunity to extend the benefits of solar energy to a broader group of beneficiaries.
Zosia Riesner, Director of Power Markets at Lightsource BP, expressed enthusiasm about the initiative, stating, “This is an exciting opportunity to spread the benefits of solar to a wider group of beneficiaries.” Riesner highlighted the success of large businesses utilizing PPAs to leverage affordable and predictable pricing of renewables while contributing to the ongoing momentum of the energy transition. She emphasized that Lightsource BP's collective PPA approach aims to extend these benefits to companies with lower energy usage, leveraging the scale delivered by a solar portfolio from their 1GW pipeline in the late stages of development in Spain.
