Lightsource BP makes maiden foray into Spanish solar market with 300MW acquisition

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Image: Lightsource BP.

Lightsource BP has announced its entry into the Spanish solar market with the acquisition of a 300MW project portfolio in Zaragoza.

The firm, which is amongst Europe’s leading solar developers, has acquired the portfolio from renewables developer Forestalia.

Lightsource BP said the “material” acquisition marked a “great step forward” in the company’s vision, coming less than a year after it first established a presence in the booming Iberian solar market.

Since then, the firm said it had been looking to collaborate with local partners to establish a foothold in the country’s market. While Lightsource BP remains focused on developing green-field sites, it said acquiring permit-ready projects such as those held by Forestalia would be “vital” to accelerating growth in the market.

The 300MW portfolio comprises six individual sites, all of which are based in the province of Zaragoza, towards the north east of Spain. All six sites will be financed by Lightsource BP, whose team will work to negotiate power purchase agreements with local entities.

Nick Boyle, group chief executive officer at Lightsource BP, said the acquisition marked not just the company’s maiden foray into Spain, but also a milestone in its bid to achieve 10GW of global solar deployment by 2023.

“Through our unique ability and extensive project experience and global supply chain optimisation, the development of these permitted sites will enable us to establish a presence in the Iberian market and provide a secure, reliable source of renewable energy to corporate and utility customers across the region,” Boyle said.

Lightsource BP, while originally more commonly associated with the UK market, has embarked on a worldwide expansion since BP acquired a minority stake in the company almost two years ago.

The prospects and challenges of solar's new era in Europe and beyond will take centre stage at Solar Media's Solar Finance & Investment Europe (London, 5-6 February) and Large Scale Solar Europe 2020 (Lisbon, on 31 March-1 April 2020).

Read Next

May 13, 2021
Solar developer Lightsource BP has been granted planning approval to develop a 400MWdc solar farm in New South Wales Australia.
May 12, 2021
Data from green hydrogen demonstration projects should be made available to help enable the future bankability of larger installations, unleashing the sector’s decarbonisation potential, a panel has suggested.
May 10, 2021
Spanish energy company Acciona plans to carry out an initial public offering (IPO) of its renewables unit before the end of June despite recent volatility among Spanish green energy stocks.
May 6, 2021
Independent power producer has Opdenergy has postponed an initial public offering (IPO) just days before its shares were due to start trading on the Spanish stock exchanges.
May 5, 2021
Europe’s solar industry has lauded the inclusion of a commitment to "re-ignite" Europe's solar manufacturing sector within the European Commission’s refreshed industrial strategy.
May 4, 2021
Spanish renewables developer and independent power producer (IPP) Grupo Ecoener has seen its shares slide on its market debut today.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
May 26, 2021
Session 1 - 7:00 AM (BST) | Session 2 - 5:00 PM (BST)
Solar Media Events
June 15, 2021
Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021