1. Light-dependent reactions: These reactions occur in the thylakoid membranes of chloroplasts. Here, sunlight is captured by chlorophyll and used to energize electrons, which are then used to generate ATP (energy currency) and NADPH (electron carrier).

2. Light-independent reactions (Calvin cycle): This occurs in the stroma of chloroplasts. The ATP and NADPH produced in the light-dependent reactions are used to convert carbon dioxide into glucose, a form of chemical energy that plants can use for growth and other processes.