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Lightsource bp expands Spanish portfolio

6/22/2021

Press release - Lightsource bp

Rapid expansion in Spain continues with three solar portfolio acquisitions completed in less than six months

703MW across three projects in Aragon
€475 million local investment and 1000 jobs could be realised through this deal
Lightsource bp’s local team has grown a 2.6GW solar development pipeline in less than six months through strategic partnerships, in addition to the 400MW that are built or in construction

Lightsource bp, a global leader in the development and management of solar energy projects, continues its rapid expansion across Europe with another project pipeline acquisition in Spain from Grupo Jorge’s energy arm totalling 703MW.

Grupo Jorge is an important industrial group in Spain and one of the largest in Europe, employing over 5000 people. Its energy branch, Jorge Energy includes both operational and development assets across wind and solar technologies, including a team with deep knowledge in developing local projects.

This latest acquisition in Spain takes Lightsource bp’s project development pipeline in the country to over 3GW, which has been mainly established this year through co-development partnerships with RIC Energy and Iberia Solar .

This latest acquisition consists of three Aragon-based projects, two in Zaragoza (292MW and 130MW) and the third (281MW) in the Huesca province, which Lightsource bp will bring to construction next year. This deal also builds on Lightsource bp’s growing presence in Aragon specifically with around 1.1GW of projects at various stages of development or construction and in operation.

Lightsource bp will be engaging with offtakers to agree power purchase agreements (PPAs) for the solar electricity that will be generated. PPA’s provide opportunities for large corporations and energy intensive industries to manage their electricity price, reduce carbon, and meet sustainability goals.

Spain leads the way for Lightsource bp’s European execution machine

The company’s local team have developed a 3GW project pipeline at remarkable pace with 2.6GW acquired in less than six months. With an average project size of 200MW (including clusters), Lightsource bp continues to showcase its value as a trusted and strategic partner to local developers and investors in Spain. With the announcement of completing its first flagship project in Zaragoza [the Vendimia cluster] expected very soon, Lightsource bp also hopes to bring another 148.5MW into construction this year and recruit for an additional 30 full-time positions.

Lightsource bp’s Country Head for Spain, 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 and we will work together with local stakeholders and communities to further shape our plans and bring these projects online.”

Solar offers dual land-use and biodiversity opportunities

Biodiversity initiatives are being prepared to help integrate the solar project areas into the local ecosystem, current site designs will include a vegetation restoration plan to reinvigorate the local ecosystem and increase native biodiversity. Specially designed perimeters would allow safe passage for small mammals to freely pass across the land. Bird flight diverters have been proposed to help create a safe environment for birds in the surrounding area.

In the last three weeks Lightsource bp has also announced a €900 million investment plan for Portugal and a major win in Greece’s record-breaking auction. To find out more about Lightsource bp and the company’s activities in Spain, visit www.lightsourcebp.com/es