Lightsource and UK Climate Investments partner to fund solar projects in India.

Lightsource Renewable Energy and UK Climate Investments have entered into a partnership agreement to fund the development, acquisition and ownership of large-scale solar power generation assets in India. Together, the companies target greenfield development and acquisition of operational utility-scale solar assets in the country, thereby creating high quality, de-risked investment opportunities. The seed asset for the partnership will be Lightsource’s 60 MW (DC) project in Maharashtra, which has reached financial closure. UK Climate Investments will provide 49 per cent of the equity for the construction of the first project. It has earmarked up to GBP 30 million to develop and construct up to a total of 300 MW of solar projects with Lightsource.

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