Asset management
Management designed from an owner’s perspective
Lightsource bp has built an impressive portfolio of solar assets under management. We firmly believe that a successful asset management service is built on a strong sense of accountability, coupled with a cross-functional structure and a multi-disciplinary operating model. As a business, we’re committed to leading the global fight against climate change, creating affordable and sustainable solar power for Ireland and the world. Our Asset Management offering is just one of the many ways that we’re contributing to global sustainability.
Our business model
Our unique business model centres around the investment and its stakeholders. At Lightsource bp, Asset Management’s objective is to maximise value creation and ensure the long-term return of the portfolio of assets. Safety and Integrity are among our Core Values, and we incorporate these into every aspect of our business, whether we’re managing our own assets or those belonging to third parties, prioritising ethical business practices alongside maximising returns.
The approach we use is focused on stabilising operations, enhancing value creation and minimising interface risk for the owners. We achieve this by undertaking the financial, commercial and technical management activities required to ensure that the energy produced by every solar PV installation is converted into the appropriate revenue stream.
Typical Asset Management Scope
- Contract Management – EPC and O&M contracts, security arrangements, land leases, grid and MOP agreements, PPAs and insurance
- Technical Management & Performance Analysis – Monitoring, performance review and reporting. Technical Adviser relationship management
- Finance and Revenue Management – Accounting and bookkeeping, treasury and invoicing, budget and forecast, statute accounts and audit assistance, VAT management
- Loan Compliance Management – Borrowers obligations compliance, financial reporting and debt service, waivers
- Regulatory Affairs – Planning authorities, Ofgem and Health and Safety.
An experienced, multidisciplinary team
On the back of Lightsource bp’s status as a leading global solar company, we have attracted talented, highly skilled, and motivated Asset Managers capable of delivering dynamic and wide-ranging services. A strong sense of accountability, along with a cross-functional structure and a multidisciplinary operating model, are the basis of a successful asset management service. The core team comprises +30 professionals providing vital financial, technical and commercial services to each SPV in the portfolio. Every Asset Manager within Lightsource bp is responsible and accountable for a selected portfolio of assets, similarly each Management Accountant is ultimately responsible for the financial management of each borrowing group.
A robust system of processes and procedures
Dedicated asset management is a vital part of ensuring that solar installations operate as efficiently as possible. The proper management of a solar project is highly complex, with technical and engineering components making up just a piece of the puzzle. We have designed a robust system of processes and procedures from the owner’s perspective, focusing on control and maximisation of return. Our Asset Management Manual covers more than 35 standardised processes, including daily finance management tasks, H&S procedures as well as processes covering the key lifecycle milestones of the sites.
Generation of additional revenues via a connected approach
Lightsource bp has a proven track record of site performance exceeding the irradiation adjusted budget. Among the drivers of this performance is a strong focus on improving Distribution Network Operators (DNO) related availability. Lightsource bp Asset Management is one of the main contributors to the Solar Power Association (SPA) Best Industry Practice Manual on outages management, a project developed by SPA members and DNOs’ representatives. Our team has a proven track record in managing outages to minimise impact on production and profitability.
Performance optimisation, contracts and stakeholders’ management
Dedicated asset management is a vital part of ensuring that solar installations operate as efficiently as possible. The proper management of a solar project is highly complex, with technical and engineering components making up just a piece of the puzzle. We have designed a robust system of processes and procedures from the owner’s perspective, focusing on control and maximisation of return.