Global solar energy company Lightsource bp is expanding into East Asia and will work with Green Rock Energy to co-develop a 150-megawatt solar plant in Budai, Taiwan, alongside fish farming operations.
In a press release, London-headquartered Lightsource bp said the project will establish one of the largest fishery solar farms in Taiwan, creating 750 employment opportunities during construction, which is expected to start in June 2023.
Once constructed, it will produce 210,000 megawatt hours of renewable electricity a year, which is roughly enough to power 43,000 homes and save 133,770 tonnes of carbon dioxide emissions annually.
As well as providing locally-generated renewable energy and creating new jobs, Lightsource bp’s project will see 200 ponds set up for fish farming.
The project is Lightsource bp’s first fishery venture and will support the local aquaculture industry while backing Lightsource bp’s target of 25 gigawatts of solar by 2025.
“There are a lot of interesting opportunities for solar in Asia and our long-term ambition is to have an EMEA, Americas and an Asia Pacific region so we’re excited that through our first East Asian project in Taiwan, we are beginning to build that third leg of the stool,” Lightsource bp CEO, Nick Boyle, said.
“Taiwan relies on imports for about 95% of its energy which leaves its energy supply vulnerable to external disruption. This energy challenge, coupled with the need for sustainably generated electricity makes Taiwan a unique project and we’re thrilled to draw on our global experience and work with Green Rock Energy to step up to the challenge.”
The move to enter the Taiwanese market comes after Lightsource bp secured a US$ 1.8 billion credit and trade finance facility last year to fuel its global growth strategy.
Funding was provided by 10 top tier global financial institutions.
