BP Lightsource snaps up Spanish solar assets for £400m
BP subsidiary Lightsource will invest €475m (£407.6m) in three solar power projects in Spain, which it today announced it had acquired from Grupo Jorge.
The Aragon-based assets, which could support 1000 jobs, take the firm’s pipeline of solar generating power in the country to 3 gigawatts.
That’s about 15 per cent of Lightsource’s total global capacity.
Fernando Roger, the firm’s country head, 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.”
Construction on the sites will begin next year, Lightsource said.
The acquisition is the latest in a string of recent deals that the firm, the third largest solar energy in the world, has completed.
It also recently signed a deal to invest €900m into Portugal, and snapped up 40 per cent of the available solar and wind capacity in Greece’s latest renewable power auction.