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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