Lightsource bp reaches 3GW in Spain in less than two years
It has just acquired 703 MW from the renewable energy subsidiary of the Jorge Group
Lightsource bp, a world leader in developing and managing solar energy projects, is expanding rapidly in Spain. In its latest undertaking - the third in less than six months- it acquired three Aragon-based projects from Jorge Energy, the renewable energy subsidiary of the Jorge Group. Two of them are located in Zaragoza (292 MW and 130 MW) while the third (281 MW) is located in the province of Huesca. The company expects to start construction on these projects next year, which is estimated to entail an investment of €475 million and create about 1,000 jobs, according to initial information from Lightsource bp.
The company's local team has built up a 3GW portfolio of projects in Spain in a short space of time, with 2.6 GW acquired in less than six months. Having announced completion of its first project in Zaragoza (the Vendimia cluster), Lightsource bp expects to start construction on another 148.5 MW this year and create around 30 additional full-time jobs. "Building quality and trustworthy partnerships at a local level is key to our growth in Spain, where we hope to continue increasing our investment and presence," explained Fernando Roger, Country Head for Spain at Lightsource bp. He believes that solar projects offer many opportunities for economic growth and the promotion of biodiversity. "We will work together with stakeholders and local communities to develop our plans and get these projects off the ground," he added.
Lightsource bp (a 50/50 joint venture with bp) will also conduct a tender process to seek buyers for solar electricity generated through power purchase agreements (PPA). PPAs offer large companies and electro-intensive industries the opportunity to fix their electricity prices, while reducing carbon emissions and meeting sustainability targets.
Photo: Lightsource BP