Lightsource bp secures new Solar Portfolio in Spain
Lightsource bp, has today announced the acquisition of an 845 megawatt (MW) solar portfolio in Spain from Iberia Solar, a local solar developer and part of the Asterion Energies platform, a portfolio company of Asterion Industrial Partners. Asterion is an independent investment management firm focusing on infrastructure investments in the European mid-market.
Lightsource bp and Iberia Solar will work in partnership to bring the project pipeline, which consists of five sites across the regions of Castilla la Mancha and Castilla y León, to “ready-to-build” status. Lightsource bp will then lead the projects to financial close and begin construction in 2022.
Today’s announcement further demonstrates Lightsource bp’s capability as a co-development partner, leveraging its expertise in developing, financing, contracting and constructing solar assets, as well as the team’s ability to work with different partners under multiple structures. It also marks a significant milestone in Lightsource bp’s commitment to playing a leading role in the energy market in Spain.
The team now has a total of 2.25GW of projects in development or under construction in Spain, offering of a geographically balanced portfolio in one of its key growth markets.
The signing of this partnership brings Lightsource bp’s total acquisitions for Q1 2021 to over 1.9GW, an impressive achievement with the year only just underway. The announcement follows the acquisition of a 1.06GW portfolio from RIC Energy and the recent award at a 12-year Contract for Difference (“CfD”) auction in Spain, both made public in January.
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