Light dependent reaction
Light independent reaction
In light-dependent reactions the energy from sunlight is absorbed by chlorophyll and converted into chemical energy in the form of electron carrier molecules like ATP and NADPH.
Light energy is harnessed in the Photosystems I and II both of which are present in the thylakoid membranes of chloroplasts.
In light-independent reactions (Calvin Cycle) carbohydrate molecules are assembled from carbon dioxide using the chemical energy harvested during the light-dependent reactions.
Source: Boundless. The Two Parts of Photosynthesis. Boundless Biology. Boundless 14 Sep. 2015. Retrieved 16 Nov. 2015 from https://www.boundless.com/biology/textbooks/boundless-biology-textbook/photosynthesis-8/overview-of-photosynthesis-80/the-two-parts-of-photosynthesis-373-11599/