M&A Deal Sheet: Lightsource bp and Microsoft Seal Solar PPA in Poland
Landmark Agreement Marks First Polish Renewable Energy Deal for Both Companies
Lightsource bp, a global developer of solar energy projects, signed a Power Purchase Agreement (PPA) with Microsoft for a 40 MWac solar project in Poland. This marks the first such agreement in Poland for both entities.
Lightsource bp operates in 19 countries and is in a 50:50 joint venture with oil major bp. Over the past two years, the company has established a 2.5GW solar project pipeline within Poland.
Microsoft's procurement from this PPA aligns with its corporate goals of being carbon-negative by 2030 and transitioning to 100% renewable energy by 2025.
The significance of this deal is amplified against the backdrop of Poland's energy scenario, which features one of the EU's most carbon-intensive power grids. Both Lightsource bp and Microsoft anticipate this agreement to contribute to a more sustainable energy mix in the region.
Deal sheet:
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