Lightsource BP closes acquisition of 300 MW solar project pipeline in Zaragosa

Lightsource BP has acquired a 300 megawatts (MW) project portfolio from Forestalia, in the province of Zaragoza, Spain.

The project pipeline, which already has administrative and environmental authorisations, marks Lightsource BP’s entry into the Iberian power market. The company has established a presence in Iberia less than a year ago and have since been working with local partners to create a foothold in the local energy market, focusing on the acquisition and co-development of large-scale ground mounted solar sites.

The projects – totalling 300 MW of solar over six separate sites – will be financed via Lightsource BP’s innovative structures. The team will negotiate Power Purchase Agreements (PPAs) with renewable energy buyers across the region, providing cost visibility and security to corporations for timeframes of up to 30 years.