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Lightsource bp expands Spanish solar portfolio

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Energy Global,

Lightsource bp, a developer and manager of solar energy projects, has announced the acquisition of a 845 MW solar portfolio in Spain from Iberia Solar, a local solar developer and part of the Asterion Energies platform, which is 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.

This announcement marks a milestone in Lightsource bp’s commitment to playing a role in the energy market in Spain. The team now has a total of 2.25 GW of projects in development or under construction in the country, 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 1Q2021 to over 1.9 GW. The announcement follows the acquisition of a 1.06 GW portfolio from RIC Energy and the recent award at a 12-year Contract for Difference auction in Spain, both made public in January 2021.

Lightsource bp was advised by Uría Menéndez, Garrigues and WSP and Iberia Solar was advised by Ontier.



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