Lightsource BP Swoops on 845MW Spanish Solar

Lightsource BP has acquired an 845MW solar portfolio in Spain from Iberia Solar.

Lightsource BP and Iberia Solar, part of investor Asterion Industrial Partners, will work in partnership to bring the project pipeline, which consists of five sites across the regions of Castilla la Mancha and Castilla y Leon, to ready-to-build status.

Lightsource BP will then lead the projects to financial close and begin construction in 2022.

With this latest pipeline, Lightsource BP now has a total of 2.25GW of projects in development or under construction in Spain, offering a “geographically balanced” portfolio in one of its key growth markets.

The signing of this partnership brings Lightsource BP’s total acquisitions for the first quarter of 2021 to over 1.9GW and follows the acquisition of a 1GW portfolio from RIC Energy and the recent award at a 12-year contract for difference (CfD) auction in Spain, both made public in January.

Lightsource BP Europe and International CEO Kareen Boutonnat said: “This deal brings our total acquisitions to almost 2GW in 2021 alone.

“This is a clear demonstration that we came here to stay, and we are in an outstanding position to consolidate our foothold in Spain even further this year.

“Our Madrid-based team is currently Lightsource BP’s fastest-growing mainland European operation, and we’re actively recruiting to build out our presence.

“We look forward to working with Iberia Solar as our partnership enables us to continue to expand on our ambition of providing affordable and sustainable solar power for businesses and communities in Spain.”