(Alliance News) - BP PLC on Monday said its Lightsource bp joint venture has acquired an 845 megawatt solar portfolio in Spain from local solar developer Iberia Solar.
Shares in BP were up 5.0% at 275.00 pence in London on Monday afternoon.
Lightsource bp is a 50:50 joint venture with BP, a FTSE 100-listed integrated energy business with operations in Europe, North and South America, Australasia, Asia and Africa. It develops and manages solar energy projects.
Iberia Solar is part of Asterion Energies platform, a portfolio company of Asterion Industrial ‎Partners. Asterion is an investment managers focused on European mid-market infrastructure investments.
Lightsource bp and Ibersia Solar are to partner on bringing the project pipeline - consisting of five sites across the Castilla la Mancha and Castilla y Leen regions - to "ready-to-build" status. Lightsource bp will then lead all project to financial close and start construction in 2022.
Lightsource bp now has 2.25 gigawatts of project in development or under construction in Spain and takes Lightsource bp's total first quarter acquisitions to more than 1.9 gigawatts.
Kareen Boutonnat, Europe & international chief executive at Lightsource bp, 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."
By Anna Farley; annafarley@alliancenews.com
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