Lightsource BP buys 156 MWp of solar projects in Italy
Solar farm powering Penn State.
Image by Lightsource BP.
Lightsource BP, which is backed by oil-and-gas major BP Plc (LON:BP), has acquired from Horizon Firm S.r.l. three solar projects in Italy with a combined capacity exceeding 156 MWp.
By doing so, the company has increased its Italian solar development pipeline to more than 1.5 GWp, it said on Thursday, noting that it also has an exclusivity agreement to purchase an additional 130 MWp from the same vendor in the next few months.
Lightsource BP has bought the 40.9-MWp Canicatti and 58.2-MWp Torre di Mastro schemes in the province of Agrigento, Sicily, as well as the 57.4-MWp Manfredonia agrivoltaic project in Apulia. The developers will consider adding an energy storage component to these solar parks.
All three are expected to become shovel-ready next year. Lightsource BP noted it plans to invest EUR 105 million (USD 126.7m) locally through the projects, covering the procurement of local services and the creation of 1,300 construction jobs, land management, agricultural activities and engineering.
The buyer was advised on this transaction by global law firm Ashurst.
Lightsource BP has been actively working in Italy since 2018. In February, the firm announced the acquisition of a 78-MW solar project in Sicily from local renewables developer EGI as part of a co-development agreement between the two.