Lightsource BP buys 300-MW solar pipeline in Spain

Lightsource BP expansion into Brazilian PV sector

October 16 (Renewables Now) - Lightsource BP, the solar power company backed by BP Plc (LON:BP), announced today it has acquired a 300-MW solar project pipeline in Spain from renewable energy firm Forestalia.

Lightsource BP said that this transaction marks its entry into the Iberian power market. The company established a presence there less than a year ago and has since then cooperated with local partners.

The acquired pipeline includes projects over six separate sites in the province of Zaragoza, each with administrative and environmental authorisations. The buyer did not give more details about the transaction.

Lightsource BP noted that it will finance the projects via its innovative structures. It plans to negotiate power purchase agreements (PPAs) of up to 30 years with parties operating across the region.

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Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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