British renewables developer Lightsource bp is seeking to sell a stake in the 100 MW Budai solar PV project in Taiwan, according to two sources familiar.

A spokesperson for Lightsource bp confirmed the transaction and said it involves a partial divestment in the project while retaining an ownership stake. The company continues to actively develop other projects and remains “fully committed” to the Taiwan market, he said.​​

Lightsource bp is advancing Taiwan’s renewable energy ambitions through development, long-term investment, and strategic partnerships, said the spokesperson.

CTBC Bank is advising on the Budai project sale process, one of the sources said.

The process was launched late last year, the sources added, noting that discussions are at an early stage and a deal may not materialize.

Lightsource bp, through its subsidiary Huimeng Energy Co., Ltd., is co-developing the Budai project with Taiwan’s GreenRock Energy. The partnership was announced in May 2022 before construction commenced in 3Q23. The project should be connected to the grid this year.

Located across 150 hectares in Budai Town and Yizhu Township, Chiayi County, the project is designed to deliver 210,000MWh of clean energy per year.

The Budai project seeks to provide benefits to the local area, which is famous for fishery. To this end, locals can fish in around 200 ponds at the solar site and add saltwater storage ponds to improve water management.

CTBC did not respond to requests for comment.