GLOBAL

Lightsource BP makes material entry into Spanish energy market with 300MW agreement with Forestalia

Lightsource BP, a global leader in the funding, development and long-term operation of solar, has acquired a 300 megawatts (MW) project portfolio from leading renewables firm Forestalia, in the province of Zaragoza, Spain.

The project pipeline, which already has administrative and environmental authorisations, marks Lightsource BP’s entry into the Iberian power market and is a great step forward in achieving the company’s global vision to enable an accelerated low-carbon transition.

Lightsource BP established a presence in Iberia less than a year ago and have since been working with local partners to create a foothold in the local energy market, focusing on the acquisition and co-development of large-scale ground mounted solar sites. While the company continues to develop green-field sites, the acquisition of permit-ready projects such as these are vital to accelerate growth in the region. Such projects confirm Lightsource BP’s initial market entry assumptions allowing the company to work on expanding its unparalleled project and asset management capabilities across Europe.

The projects – totalling 300MW of solar over six separate sites – will be financed via Lightsource BP’s innovative structures. The team will negotiate Power Purchase Agreements (PPAs) with renewable energy buyers across the region, providing cost visibility and security to corporations for timeframes of up to 30 years.

Nick Boyle, Group Chief Executive Officer, Lightsource BP comments:

“This acquisition not only marks our first transaction in Spain but is also a further milestone in our global ambition to achieve 10GW 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.”

Fernando Samper Rivas, President of the Forestalia Group, said:

“This agreement will enable the development of solar projects of enormous significance for the Aragonese rural environment. Renewable energy creates jobs and generates development in rural areas, which are in-need of investment and stimulation”.

Related news

15 Dec, 2024

Australia: Lightsource bp reaches major milestone on solar and battery projects to deliver firmed renewable energy solutions 

Lightsource bp announces it is commencing construction on its Goulburn River hybrid project and its Woolooga Battery Energy Storage System (BESS).

Read Story

29 Oct, 2024

Wool quality and sustainability: Insights from Lightsource bp’s Wellington solar farm 

Lightsource bp has seen promising results from the second round of wool testing at its Wellington solar farm, in New South Wales, Australia.

Read Story

24 Oct, 2024

bp completes acquisition of Lightsource bp

bp has completed its acquisition of the remaining 50.03% interest in Lightsource bp.

Read Story

17 Oct, 2024

Honeysuckle Solar: Recharging American Energy

Indiana reaps benefits of American-made energy investment as Lightsource bp’s Honeysuckle Solar goes online.

Read Story

16 Oct, 2024

Lightsource bp Executives interview with Women of Today about empowering inclusion

Adele Ara and Heather Hayes spoke to Women of Today about the company's last 14 years and our work around diversity, equity and inclusion.

Read Story

10 Oct, 2024

Poland: Celebrating the official opening of Kotuń solar farm – our first solar project in Poland

The Kotuń solar farm is a key project for Lightsource bp and represents an important step in the development of renewable energy sources in Poland.

Read Story

09 Oct, 2024

The overlooked quick win for European renewables

Despite significant growth in renewable energy, the sector is calling for more grid investment and faster permitting to unlock its full potential.

Read Story

07 Oct, 2024

Lightsource bp joins new World Economic Forum coalition to accelerate responsible renewable infrastructure deployment 

Lightsource bp has joined industry peers, environmental non-profits and the World Economic Forum (WEF) to launch the Responsible Renewables Infrastructure Coalition.

Read Story

30 Sep, 2024

Lightsource bp founder recognised with UK solar achievement award

Lightsource bp co-founder, Nick Boyle, has been recognised by the UK Solar & Storage Live Awards with the lifetime achievement accolade.

Read Story

30 Sep, 2024

How the solar industry is setting the pace for economic growth

New employment data for the solar industry in Europe has revealed the continued growth of job creation in the sector in 2023.

Read Story