The portfolio include two utility scale solar projects that are at late stage development
Lightsource bp has announced the acquisition of 100MW solar portfolio in Spain from Forestalia for an undisclosed sum.
Located in the Spanish province of Teruel, the portfolio consists of two utility scale solar projects that are at late stage development.
The solar projects are located in Calamocha and Cuevas de Almudén.
Under the terms of the partnership agreement, Lightsource bp and Forestalia will work together to progress the projects towards financial close and construction.
The projects are expected to create around 300 local construction jobs as well as some long-term operational engineering roles.
Forestalia president Fernando Samper said: “This new agreement with Lightsource bp guarantees very important investments for the province of Teruel, as the plants will create jobs in a territory that needs new opportunities for the future.”
Lightsource bp and Forestalia already worked on 250MW solar portfolio in Spain
The two companies have already worked a 250MW Spanish solar portfolio that is currently in final stages of construction.
Located in the province of Zaragoza, the cluster marked the entry of Lightsource bp into the Spanish market.
The Zaragoza solar projects are expected to come online by the end of 2020.
Lightsource bp Europe and International CEO Kareen Boutonnat said: “It’s very exciting to continue building on our co-development partnership with Forestalia and adding a further 100 MW to our portfolio in Spain.
“Working with local partners is an essential business model for Lightsource bp. It enables us to widen our reach quickly but also build upon the really great work already being done at a local level.”
Recently, technology company L3Harris Technologies has entered into an agreement to buy 100MW of renewable energy from Lightsource bp.