Lightsource bp Secures Approval to Build 1.6 GW Solar Project in Spain

Global renewable energy conglomerate Lightsource bp – a joint venture between Lightsource and British Petroleum – has held that its route for the development of solar energy projects of multi-GW stands cleared in Spain. In a key development, Lightsource bp has received the environmental go-ahead for 19 solar power projects having total cumulative capacity of 1620 MW.

Lightsource bp mentioned that the solar PV projects will be developed in the Spanish provinces of Zaragoza, Seville, Cordoba, Toledo and Valladolid. The firm will bring an investment of about EUR 1.2 billion for the solar projects.

The construction of solar power projects will generate employment for about 5,000 persons and 90 professionals will be required in the operations of the plants.

All solar projects will be made operational by Lightsource bp probably by 2025 helping decarbonisation of the Spanish economy.

Fernando Roger, Development Director for Southern Europe, Lightsource bp, said, “At Lightsource bp we are very pleased to have achieved environmental authorisation for these projects, a milestone that demonstrates the company’s leadership position in Spain and the dedication of our team. Our ambition and commitment are clear: Spain is a key market in our global growth strategy.”

“The achievement of results like these demonstrates our experience in the development of quality assets and how we can contribute to the decarbonisation of Spain, representing an opportunity for utilities and corporate customers that want to acquire renewable energy through PPA contracts and other structures,” he stated.

The director also said that Lightsource bp will be engaging with potential buyers for the electricity through long-term renewable PPAs adding that with excellent solar resources, large-scale solar PPAs in Spain represent excellent value for buyers to meet European renewable energy procurement goals.

In 2021, Lightsource bp acquired a solar power portfolio 845 MW in Spain from local solar developer Iberia Solar. It also raised a EUR 52 million term loan from leading financial backers for its Barrica solar projects in the Aragon region of Spain of 49.5 MWp capacity.