Lightsource bp Offloads 294-MW Italian Solar Projects

Lightsource bp have announced that it has inked an agreement for the sale of six solar greenfield projects in Italy to EOS Investment Management Group (EOS IM). Lightsource bp said that the portfolio is currently either permitted or in the late stages of development with construction expected to begin in the next 12 months.

 EOS IM is an independent asset manager specialised in promoting alternative investment funds focussed on the energy and sustainable transition and Lightsource bp claims to be a global leader in the development and management of solar energy projects,

EOS IM, through EOS ReNewable Infra Fund II, will add the 294MW portfolio to its existing solar power assets in Italy.

The transaction enables Lightsource bp to reinvest and further extend its reach in the Italian market where its progressing more than 1GW of mature solar project opportunities and a substantial energy storage pipeline.

The portfolio includes various agri-photovoltaic (agri-PV) initiatives with the projects designed to host sheep grazing, honey production and the plantation of olive, pistachio and orange trees as well as other local crops, allowing both eco-friendly power generation and biodiversity protection.

Giovanni Mascari, Country Head, Lightsource bp, said, “Deals like this enable us to reinvest and amplify our ability to deliver clean electrons to the utilities and businesses that need them, as we contribute to advance the energy transition on a global scale.”

“This acquisition further enriches the portfolio of our second clean energy infrastructure fund, bringing it to over 370MW of assets either operational or under construction and a portfolio of projects close to being permitted totalling 600MW of capacity. This transaction is further consolidating our position as one of the most dynamic independent players in the energy transition sector in Italy” commented Natalino Mongillo, Managing Partner at EOS IM.

Till date, Lightsource bp has developed 8.4 GW solar power projects spread across 19 regions of the world. Their goal is to develop 25GW of solar projects by 2025, and to do so safely and sustainably.

Lightsource bp has also sold a portfolio of 58 operational assets to a consortium comprising GLIL Infrastructure and Bluefield Solar Income Fund. The company also sold five utility-scale solar photovoltaic (PV) projects in Asia-Pacific Region (APAC) recently, to fuel its expansion in the region.

Lightsource bp is a joint venture. Global energy conglomerate bp has recently said that it will be acquiring an additional 50.3% interest in the country for a value of $320 million.