UK-based solar energy company Lightsource BP has won 140MWp of capacity in Greece in a solar and wind auction.

The company secured more than 40% of the total awarded capacity in the latest auction through a co-development partnership with Greek energy company Kiefer TEK.

Lightsource BP official Vlasios Souflis, who is responsible for the company’s global expansion, said: “This is a landmark moment for our large-scale solar development team in Greece, which has been working on local opportunities for less than a year.

“The auction process is enabling the country to accelerate the decarbonisation of its energy sector while providing an attractive market for global energy players.

“We have entered the market in partnership with local experts Kiefer TEK, who have been instrumental in helping us establish our presence.”

The company said that the successful projects are part of a 640MWp portfolio that will be developed with Kiefer TEK.

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By GlobalData

Lightsource BP said the deal will position it as a major developer and investor in Greece.

Over the next 24 months, Lightsource BP anticipates that more than 200MWp of capacity could be operational, including the capacity won in the auction.

The company initially plans to invest around €160m ($195m) for procurement services, as well as creating more than 300 construction jobs in the region.

Under the co-development agreement, Kiefer TEK will serve as the engineering, procurement and construction contractor.

Lightsource BP intends to sell a portion of the renewable energy capacity generated by the facilities to the Greek government at the bid pricing.

The remaining clean energy will be sold to commercial and industrial customers, as well as being sold on the open electricity market.

Kiefer TEK CEO Christos Petrochilos said: “This result reflects the high potential of these sites and the value that we can deliver together with a global solar player like Lightsource BP.

“It is a huge endorsement to see all our projects with them winning. It will be even more rewarding to see them fully developed and delivering competitively priced, clean electricity across Greece.

“We are very excited about what the future holds through our cooperation with one of the largest energy players globally.”

Lightsource BP recently announced a €900m ($1.09bn) investment in Indonesian solar company Insun in order to fund the development of five utility-scale solar projects in Portugal.