Lightsource BP secures financing for 115 MWp fishery solar project in Taiwan
Financial package announcement coincides with groundbreaking ceremony for Project Budai in Chiayi County, Taiwan. The 115 MWp project is expected to be complete in 2026, according to Lightsource BP.
June 10, 2025 Matthew Lynas
Lightsource BP has secured TWD 6 billion ($200 million) of financing for a 115 MWp fishery solar project in Chiayi County, Taiwan. Construction at the Project Budai is set to begin in June 2025, according to the project developer. Once operational, the project is expected to be one of the largest fishery solar farms in Taiwan, capable of producing 180 GWh of renewable energy per year.
Financing for Project Budai was secured from a group of Taiwanese and international investors. GreenRock Energy has been awarded development, partial sub-contract construction work and fishery management contracts for the project, while Shihlin Electric & Engineering Corporation (SEEC) will carry out engineering, procurement and construction work, which is expected to be complete in 2026.
Project Budai is Lightsource BP's first solar fishery venture and its first solar initiative in Taiwan. The project's financing announcement coincided with a groundbreaking ceremony at the site.
In a press release, Bin Fu, head of Taiwan at Lightsource BP, said the project highlight’s the developer’s commitment to Taiwan and its communities. Lightsource BP is expected to carry out social and environmental investments in local communities in conjunction with developing the project. The company also said 750 jobs will be created during the construction phase of Project Budai, with priority given to hiring local labor.
Dual-use projects look set to be a key pillar of Taiwan’s solar deployment strategy, due to limited land availability for large-scale, ground-mounted projects. Taiwan has set a capacity target of 40 GW to 60 GW of solar by 2050, more than double the 14 GW of existing capacity recently reported by the Ministry of Economic Affairs.
Project financing for Project Budai 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.