Lightsource bp, Shell, and bp complete negotiations for large scale solar project

Agreement with the government was reached on 9^the December 2022, which enabled consortium partners to reach final investment decision (FID) to commence construction on the project, with bp and Shell initially having joint shareholdings (50/50). bp and Shell have signed a binding heads of terms agreement with the National Energy Corporation of Trinidad and Tobago Limited (a state-owned agency committed to supporting the sustainable development of the Trinidad and Tobago energy industry) or its affiliate for the option to take up a shareholding in the project.

Global solar leader, Lightsource bp, has successfully brough the project from inception to FID and will provide the construction management services. The project is located across two sites, Brechin Castle (92 MWac/122 MWp) and Orange Grove (20 MWac/26 MWp). Construction is set to commence on both sites in 1Q23, and expected to be operation in 3Q24 and 4Q24. At the Orange Grove site, bp and Shell will collaborate with the University of the West Indies (UWI).

The partners joined forces in response to the Trinidad and Tobago government’s request for proposal for projects to underpin the country’s commitment to the Paris Agreement to reduce greenhouse gas emissions by 15% in the power generation sector by 2030. The projects will produce 302 500 MWh of renewable electricity a year – that is enough to power the equivalent of 42 500 homes and save 165 500 tpy of carbon dioxide emissions.

This is the first time the consortium of bp, Shell, and Lightsource bp has ever worked together on a joint project. With the experience of bp and Shell, as major operators in Trinidad and Tobago’s energy industry, combined with Lightsource bp’s global solar expertise, the group represents the huge potential to accelerate the energy transition through collaboration.

Kareen Boutonnat, Lightsource bp’s CEO of EMEA and APAC, added: “This consortium is a clear demonstration of how energy companies can combine experience and skill sets to support national decarbonisation targets. We are proud to apply our development, engineering, finance, and new market entry experience to realise Trinidad and Tobago’s large scale solar ambitions through this partnership and act as an enabler for the country’s energy transition.”

David Campbell, bp Trinidad and Tobago President, said: “We are proud to join our partners in the development of Trinidad and Tobago’s first commercial scale renewable energy project. We have been in T&T for over 50 years and are excited by the opportunity to support the country as it transitions to a lower carbon future. This is a significant milestone for the country as it has the potential to unlock future investments in renewable energy. In pursuing this activity through collaboration, we are able to leverage the strengths of Lightsource bp, bp, and Shell for the benefit of T&T.”

“This project underscores Shell’s commitment to helping Trinidad and Tobago’s move towards a low-carbon energy future,” stated Eugene Okpere, Shell’s Senior Vice President and Country Chair. “This solar project will supply the first green electrons to the grid and is a significant step in the country’s energy transition journey. Collectively, government, private sector, and academia brought new perspectives to help chart new territory for this country’s renewable energy future and we look forward to what will come.”

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global's Autumn 2022 issue

The Autumn 2022 issue of Energy Global hosts an array of technical articles focusing on wave & tidal, waste-to-energy, energy storage, solar technology, and more. This issue also features a regional report outlining how green hydrogen is playing a key role in the renewable transition across Europe .

Read the article online at: https://www.energyglobal.com/solar/12122022/lightsource-bp-shell-and-bp-complete-negotiations-for-large-scale-solar-project/