Lightsource bp secures financing on its first project in Taiwan and its pilot fishery solar project globally 

• Lightsource bp has secured around TWD 6 billion of financing on its 115MWp fishery solar project in Budai and Yizhu Township Chiayi County, Taiwan.
• Financing for the projects was secured from Bank SinoPac Company Limited, Crédit Agricole Corporate and Investment Bank, Taipei Branch, CTBC Bank Co., Ltd, DBS Bank (Taiwan) Ltd, KGI Bank Co., Ltd., and MUFG Bank, Ltd., Taipei Branch.
• GreenRock Energy has been awarded the development, partial sub-contract construction work, and Fishery Management Contracts for the project, while engineering, procurement, and construction contractor Shihlin Electric & Engineering Corporation (SEEC) has been issued full notice to proceed, with completion expected in 2026.

Lightsource bp, a leading developer and manager of global onshore renewable energy projects, has secured around TWD 6 billion in financing for its 115MWp fishery solar project in Budai and Yizhu Townships within Chiayi County, Taiwan, with construction set to begin in June 2025.

This project marks Lightsource bp’s first fishery solar venture and a significant milestone as the company’s inaugural solar initiative in Taiwan. A fishery solar farm combines solar power generation with aquaculture – a practice known as aquavoltaics – where solar panels are installed above fishponds, allowing for both fish farming and low-carbon energy production. As an area known for fish farming, the integration of solar technology with aquaculture is particularly beneficial to the Budai and Yizhu regions. In addition to maintaining food security, it can enhance energy independence and help decarbonise Taiwan’s energy sector.

Once operational, Project Budai will be one of the largest fishery solar farms in Taiwan, able to produce 180,000MWh of renewable energy a year – enough to power the equivalent of around 41,000 homes and save around 115,000 tonnes of carbon dioxide emissions annually.

Adam Pegg, Chief Operating Officer for Asia-Pacific (APAC) at Lightsource bp, commented: “The APAC region is forecast to see exponential growth in renewable energy, and our goal is not merely to participate but to be a renewable energy leader across the region. Project Budai showcases Lightsource bp’s ability to adapt and evolve, positioning our business to capitalise on new opportunities and drive long-term success in APAC.”

Over the past five years, Lightsource bp has made significant progress in the APAC market. The company has expanded into six markets, developed over 1.8GWp in assets, and built a multi-gigawatt regional development pipeline.

Bin Fu, Head of Taiwan at Lightsource bp, said: “Taiwan is at a crucial stage in its energy transition. Our team is honoured to bring world-class solar expertise to Taiwan and support it in achieving its 2050 Net-Zero Emissions goal. With the backing of our banking partners, Project Budai represents a significant milestone in our growth, highlighting our commitment to being a long-term partner for Taiwan and its communities.”

Coinciding with this announcement, Lightsource bp celebrated a groundbreaking ceremony for Project Budai. The event welcomed a diverse group of key stakeholders, including representatives from local government, financing partners, construction teams, and community leaders. Adam Pegg, along with Lightsource bp regional team leaders, attended the ceremony and reaffirmed the company’s strong commitment to the Taiwanese market, highlighting the importance of building and sustaining collaborative partnerships to support Taiwan’s energy transition and long-term renewable energy goals.

Lightsource bp is cooperating with local developer GreenRock Energy for the development and fishery management for this project. The engineering, procurement and construction (EPC) contractor for the project is Shihlin Electric & Engineering Corporation (SEEC), a leading electric manufacturer in Taiwan that has actively expanded into renewable energy, providing comprehensive solutions, including the design and construction of large-scale solar power projects.

Lightsource bp will carry out social and environmental investments in local communities, with programmes based on the need of the community. During the construction of the solar farm, up to 750 direct jobs will be created, with priority given to hiring local labour.