View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
June 21, 2021

Lightsource BP acquires Spanish solar project pipeline

The deal could create $564m of local investment and more than 1,000 jobs.

By Umesh Ellichipuram

UK-based solar energy company Lightsource BP has acquired a pipeline of three solar projects in Spain from Spanish company Grupo Jorge.

Grupo Jorge’s energy branch, Jorge Energy, develops and operates wind and solar assets in the region.

The three projects, with a total of 703MW of generation capacity, are located in Aragon.

Two of the projects are located in Zaragoza, with 292MW and 130MW capacities respectively, while the third is located in Huesca and has 281MW of capacity.

The construction of these projects is expected to begin next year.

Lightsource BP Spain country head Fernando Roger said: “Building quality and trusted local partnerships is key for our progression across Spain and we look forward to increasing our investments and activities across the region.

“Solar developments offer many additional opportunities for economic growth, skills development and boosting biodiversity.

“We will work together with local stakeholders and communities to further shape our plans and bring these projects online.”

According to Lightsource BP, the deal could create 1,000 jobs and €475m ($564m) of local investment.

The company plans to negotiate power purchase agreements (PPAs) with offtakers for the clean energy generated by the projects.

The deal increases Lightsource BP’s project development pipeline in the country to more than 3GW.

In less than six months, the company has grown a 2.6GW solar development pipeline via strategic partnerships, in addition to the 400MW of capacity that is built or currently under construction.

Lightsource BP also aims to complete its first flagship project in Zaragoza in the coming months. This will bring a further 148.5MW capacity into construction and create 30 full-time jobs.

In February, Lightsource BP acquired an 845MW solar portfolio in Spain from development company Iberia Solar.

Under the deal, the company and Iberia Solar agreed to work together on a project pipeline of five sites.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Wednesday. The power industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Power Technology