United Kingdom

From millions to billions – why finance is key to delivering a low-carbon future

A few months ago, we announced our partnership with 10 major global banks, including CIBC, to provide a $1.8 billion credit facility, to allow us to meet our ambition to deliver 25GW of solar by 2025.

Our Group CEO, Nick Boyle features in CIBC’s Vision 2045 video campaign. Vision 2045 is a campaign which entails a series of documentaries that aims to inspire businesses and people to take collective action to ensure a better future for all, aligned with the UN Sustainable development goals.

“If we’re going to tackle the climate emergency, we need to redefine business as usual,” explains Nick Boyle, Group CEO, Lightsource bp. “We need to shift from the concept of gigawatts to terawatts. We need to shift from talking in terms of millions of investment to billions.”

“The appetite for lenders to support renewable energy projects has noticeably increased — which is essential if the renewable energy industry is collectively going to deliver enough energy to support decarbonising our energy supplies,” continues Nick.

“Solar provides long-term predictable returns that are extremely attractive for investors; we know that the sun will come up — creating an annuity of predictable generation.”

Watch the video below to see why partnering with large financial institutions drives scale and pace – allowing us to urgently develop projects that deliver a low-carbon future.

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