Global law firm White & Case LLP has advised Lightsource and its founders on the launch of the 'Lightsource BP' solar power partnership with BP.
The US$200 million investment by BP signals the beginning of a new partnership with Lightsource, Europe's largest solar operator, that will drive growth in large scale solar power. The transaction is a combination of the sale of shares by existing shareholders and subscription for shares in Lightsource.
"White & Case has advised on a landmark green energy deal between two leading British companies that focuses on solar, one of the fastest growing sources of power in the ongoing transition towards a low carbon future," said White & Case partner Ian Bagshaw, who co-led the Firm's deal team with partner John Cunningham. "It showcases the strength of our infrastructure M&A practice, and our track record of advising founders and entrepreneurs on exciting and strategically significant transactions."
Nick Boyle, Group CEO and founder of Lightsource, said: "We founded Lightsource to lead the solar revolution and chose to partner with BP because, like us, their ambition is to build and grow this company for the long term. Not only does this partnership make strategic sense, but our combined forces will be part of accelerating the low carbon transition. Solar power is the fastest growing source of new energy and we are excited to be at the forefront of this development."
Lightsource is a global market leader in the development, acquisition and long term management of large scale solar projects and smart energy solutions, with projects generating competitively-priced, dependable, clean energy for businesses and communities.
The White & Case team in London which advised on the transaction was led by partners Ian Bagshaw and John Cunningham, and included partners Michael Wistow and Lindsey Canning, with support from associates Ben von Maur, Peter Jones, Helen Levendi, Irina Kozlova and Khurram Kayani.
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