June 18, 2018 / 11:07 AM / in 2 months

Lightsource BP completes first Indian solar project

LONDON (Reuters) - - UK-based Lightsource BP, Europe’s biggest solar energy developer, has completed its first big solar project in India, it said on Monday.

- The project in the Indian state of Maharashtra can generate 60 megawatts (MW) of electricity at its peak, enough to power around 20,000 homes.

- India is one of the fastest-growing markets for clean energy.

- The project was financed in partnership with UK Climate Investments - a joint venture between Macquarie (MQG.AX) owned Green Investment Group and the British government’s Department for Business Energy and Industrial Strategy.

- The company did not reveal any details on the cost of the project.

- Oil major BP (BP.L) acquired a 43 percent stake in Lightsource last year.

- India currently has around 60 gigawatts (GW) of installed renewable capacity, but plans to add a further 115 GW by 2022, which could cost $125 billion (94.3 billion pounds).

Reporting By Susanna Twidale; Editing by Susan Fenton

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