Lightsource targets N American market

Lightsource Renewable Energy Holdings Ltd is expanding into North America and has appointed a three-strong management team, based in San Francisco, to lead the effort, the UK solar company said on Thursday.

In the US, Lightsource will focus on large-scale solar and energy storage projects, from origination and development to asset management and operations and management (O&M), for utilities, municipalities, cooperatives and large commercial customers. It said it will pursue greenfield project development as well as a flexible framework that will enable partnerships with smaller developers.

The management team includes chief executive Tim Derrick and chief operating officer Kevin Christy, who previously co-founded solar developer Axio Power, the first utility-scale platform acquired by SunEdison in 2011. The third member is chief commercial officer Katherine Ryzhaya, co-founder of energy storage company Advanced Microgrid Solutions. According to her the trio is "well positioned to capture significant market share of the exponentially growing U.S. solar and storage market."

Lightsource has an experience of deploying over GBP 2.4 billion (USD 3bn/EUR 2.8bn) in solar projects together with investment partners, GBP 1.5 billion of which in the past 18 months.

The UK solar market has enjoyed rapid growth in recent years ahead of a curtailment of subsidies.

(GBP 1.0 = USD 1.246/EUR 1.170)

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