Skip to content
Thomson Reuters
Corporate Governance

Lightsource and Macquarie team up on Indian solar projects

Reuters Staff

30 Oct 2017

LONDON (Reuters) – British solar power projects developer Lightsource Renewable Energy and Australian bank Macquarie (MQG.AX) will jointly fund the development of large solar power projects in India, the bank said on Monday.

The logo of Australia’s biggest investment bank Macquarie Group Ltd adorns a desk in the reception area of their Sydney office headquarters in Australia, October 28, 2016. REUTERS/David Gray

As part of the venture, Macquarie’s UK Climate Investments will provide 49 percent of the equity for the construction of the first project, which is Lightsource’s 60 megawatt (MW) solar project in India’s Maharashtra state.

The deal reached financial close on Monday.

UK Climate Investments will also provide up to 30 million pounds for a broader partnership to help Lightsource build a portfolio of up to 300 MW solar power projects.

Reporting by Oleg Vukmanovic and Susanna Twidale; Editing by Greg Mahlich
Our Standards:The Thomson Reuters Trust Principles.
Conflicts and climate disasters forcing children into work – U.N. Godfather of investing for good says capitalism leaving people behind Trump urged to push North Korea to end slavery at Singapore summit EXCLUSIVE – Expose of labour abuse brews trouble for ‘slave-free’ Indian tea Enbridge hits debt target with $2.5 billion pipeline, renewables sale Nissan to gradually withdraw from diesel vehicle market in Europe Allianz cuts back on coal insurance after environmentalist criticism Corrupt officials to blame for loss of Kenya’s forest cover: government report Use blockchain to educate and empower refugees, says ExsulCoin CEO ‘Wake up call’ as luxury fashion brands criticised over supply chain slavery risk