United Kingdom-based Lightsource BP has added another feather to its solar development portfolio following the acquisition of a project from Iberia Solar. It has been speculated that the companies, Iberia and Lightsource, are expected to unite to bring the pipeline to a ‘ready to build’ status, which the energy company will further take over to commence the construction in 2022.
Reports have it that Lightsource BP is currently revamping its presence in the solar sector in the Spanish market, which has become highly competent over the recent years with the advent of a subsidy-free market together with new capacity auctions.
While speaking on the novel accomplishment, Chief Executive of Europe and international at Lightsource BP- Kareen Boutonnat cited that the latest portfolio acquisition stands to be a clear demonstration of how the company has secured an outstanding position in the global market to consolidate its foothold in Spain further by the end of this year.
It would be imperative to note that the energy firm has a total of 2.25 gigawatts of projects lined in its Spanish development pipeline.
Chief Executive at Asterion Industrial Partners, Jesus Olmos stated that the energy group has established its development portfolio over the past 2 years to constitute to over 4.5GW of future PV and wind capacities in France, Spain, and Italy.
Olmos further mentioned that the company is thrilled about the ability to rotate certain assets to enable the organization to continue funding its development and building activities, while simultaneously reducing risks. He added that the team of Iberia Solar has been instrumental in the development and divestment of the first portfolio of robust-quality PV projects.
For the record, Lightsource BP made its first move in the Spanish market with the acquisition of a 300MW solar PV portfolio in Zaragoza in 2019. Besides, the company was considered to be among 32 bidders to be granted capacity in an oversubscribed 12-year Contract for Difference bid the last month.