Lightsource Renewable Energy Valuation, Funding & Investors

Lightsource Renewable Energy is valued at $465M as of December 2017.

Last Lightsource Renewable Energy valuation

$465M

Strategic investment · Dec 2017

Last Lightsource Renewable Energy funding round

$140M

Undisclosed stage · Sep 2019

Cumulative funding Lightsource Renewable Energy raised

$340M

across 2 funding rounds

Key investors in Lightsource Renewable Energy

Lightsource Renewable Energy Overview

About Lightsource Renewable Energy

Lightsource Renewable Energy is a London-headquartered developer, owner, and operator of utility-scale solar photovoltaic projects across the United Kingdom, Europe, and the United States. The company manages over 2 gigawatts of operational solar capacity and maintains a development pipeline exceeding 10 gigawatts worldwide. Acquired by BP in 2017, it delivers long-term power purchase agreements to corporate off-takers including Google, Tesco, and the Ministry of Defence. Lightsource Renewable Energy integrates battery storage and agrivoltaics into its projects, such as the 50-megawatt Ferrybank solar farm in England co-located with sheep grazing. Its in-house engineering teams handle permitting, construction, and asset management for more than 200 sites.


Founded

2010

HQ

United KingdomLondon

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$465M (Dec 2017)

Lightsource Renewable Energy Valuation

Lightsource Renewable Energy is currently valued at $465M, based on its strategic investment round in December 2017.

The $200M round was led by BP.

Lightsource Renewable Energy valuation by funding round

Lightsource Renewable Energy valuation by funding round
DateStageValuation
Dec 2017Strategic investment$465M

Lightsource Renewable Energy Funding History

Lightsource Renewable Energy has raised a total of $340M across 2 funding rounds.

Lightsource Renewable Energy's first fundraising round was a $200M strategic investment round in December 2017. The most recent completed round was a $140M undisclosed-stage round in September 2019.

Lightsource Renewable Energy funding rounds

Lightsource Renewable Energy funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Sep 2019Undisclosed stage-$140M-Lightsource bp (successor to Lightsource Renewable Energy following bp investment) completed over $140 million in funding in 2019 for a 125MW portfolio of seven utility-scale solar PV projects across four US states, including tax equity from Rockwood Group/Guardian Life and debt from NatWest. The projects feature long-term power purchase agreements of 20-25 years, powering over 19,000 homes and creating 450 jobs. This was project financing, not a VC equity round for the company. In 2023, bp acquired the remaining 50.03% stake in Lightsource bp for $322.5M equity value (enterprise value $1.27B), at 6.99x 2022 EBITDA of $364.4mn, covering 2.9GW operational assets, 10GW in construction/development, and 55GW pipeline primarily in US, Australia, UK, Spain.
Dec 2017Strategic investmentBP (lead)$200M$465MLightsource Renewable Energy, a UK-based solar energy developer founded in 2010, specialized in the acquisition, development, and long-term management of large-scale solar projects, operating across Europe, the US, India, and the Middle East. By December 2017, the company had commissioned 1.3 GW of solar capacity and managed an additional 2 GW under long-term operations and maintenance contracts, with a 6 GW global growth pipeline focused on grid-connected plants and corporate PPAs. On December 15, 2017, BP announced a strategic partnership, acquiring a 43% equity stake in Lightsource for a total consideration of $200 million paid over three years, including an initial $50 million payment upon completion expected in early 2018. The investment, primarily funding Lightsource's worldwide solar pipeline, led to the company rebranding as Lightsource BP, with BP gaining two board seats. This marked BP's return to the solar sector after closing BP Solar in 2012. Lightsource's revenue model centered on full lifecycle services, integrating development, operational management, long-term contracted income (25-30 years), and asset financing expertise. The partnership leveraged BP's global scale, relationships, and trading capabilities to accelerate growth in solar power development. The deal valued the company at approximately $465 million post-money based on the $200 million for 43% stake. Lightsource had grown exponentially from a startup to a major player, managing enough solar capacity to power 500,000 UK households.

Who has invested in Lightsource Renewable Energy?

1 investor has backed Lightsource Renewable Energy across its funding rounds, including BP.

Lead investors include BP.


Lightsource Renewable Energy Investors

Investors in Lightsource Renewable Energy by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by Lightsource Renewable Energy

Lightsource Renewable Energy has acquired 1 company to date.

Last acquisition by Lightsource Renewable Energy was on May 7th 2018. Lightsource Renewable Energy acquired Ubiworx for undisclosed valuation.


Latest Acquisitions by Lightsource Renewable Energy

Ubiworx
Description
Ubiworx is a Waterford-headquartered Industrial IoT firm supplying edge gateways and middleware for factory automation. Its platform connects PLCs, sensors, and cloud services for predictive maintenance in food processing and pharmaceuticals. Ubiworx integrates with OPC UA and MQTT protocols. Established in 2006, it deploys in EU manufacturing sites with AWS IoT certification.
HQ CountryIreland
HQ City
Limerick
Deal Date7 May 2018
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Lightsource Renewable Energy Competitors

Lightsource Renewable Energy competitors include listed companies like Energiekontor, Zephyrus Wing Energies, Gevo and Raizen, and private ones like 360 Energy Solar and Antora Energy.

Public and private companies comparable to Lightsource Renewable Energy
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
360 Energy SolarArgentinaArgentinaPrivate--$408M-
EnergiekontorGermanyGermanyPublicly listed$193M$99M$406M2.7x
Zephyrus Wing EnergiesIsraelIsraelPublicly listed$65M$34M$535M-
GevoUnited StatesUnited StatesPublicly listed$161M$7M$393M2.7x
RaizenBrazilBrazilPublicly listed$44B($1.4B)$563M0.3x
Antora EnergyUnited StatesSan Francisco, CAPrivate--$574M-

Lightsource Renewable Energy Public Comps

Lightsource Renewable Energy is still privately-owned, but its public comps include Terrestrial Energy, Tullow Oil, Okea, Boss Energy, Frontera Energy, Sterling and Wilson, Capex, Kalyon Güneş Teknolojileri, Genie Energy and Deutsche Rohstoff.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Terrestrial Energy-($24M)--(8.2x)(3.5x)
Tullow Oil$851M$591M2.8x2.4x4.0x3.1x
Okea$784M$204M0.5x0.4x2.0x0.7x
Boss Energy$107M$23M4.1x3.9x19.6x13.3x
Frontera Energy$1B($739M)0.5x0.8x(0.7x)1.8x
Sterling and Wilson$787M($15M)0.7x0.7x(37.6x)15.3x
Capex$397M$170M2.1x-4.8x-
Kalyon Güneş Teknolojileri------

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Common questions about Lightsource Renewable Energy

When was Lightsource Renewable Energy founded?Lightsource Renewable Energy was founded in 2010.
Where is Lightsource Renewable Energy headquartered?Lightsource Renewable Energy is headquartered in London, United Kingdom.
Is Lightsource Renewable Energy publicly listed?No, Lightsource Renewable Energy is a private, VC-backed company.
What is Lightsource Renewable Energy's valuation?Lightsource Renewable Energy was last valued at $465M in its strategic investment round in December 2017.
How much funding has Lightsource Renewable Energy raised?Lightsource Renewable Energy has raised $340M across 2 funding rounds.
What was Lightsource Renewable Energy's last funding round?Lightsource Renewable Energy's last funding round was a $140M undisclosed-stage round in September 2019.
Who are Lightsource Renewable Energy's investors?Lightsource Renewable Energy's investors include BP.
Which companies are comparable to Lightsource Renewable Energy?Companies comparable to Lightsource Renewable Energy include 360 Energy Solar, Energiekontor, Zephyrus Wing Energies, Gevo, Raizen and Antora Energy.
How many companies has Lightsource Renewable Energy acquired?Lightsource Renewable Energy has acquired 1 company, including Ubiworx.

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