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Alternative Investment

Lightsource BP to sell 247MW solar project portfolio in Spain

British solar energy company Lightsource BP has reached an agreement to sell its 247MW solar photovoltaic (PV) project cluster in Aragón, Spain.

The solar PV cluster comprises five projects located in Aragón, Spain, which have been operational since 2021.

These projects have been sold to independent renewable energy investors Plenium Partners and Bankinter Investment for an undisclosed sum.

The deal aims to help the investors expand their renewable energy portfolio in Southern Europe.

Bankinter Investment is a subsidiary of Bankinter, which is Spain’s fourth largest bank by stock market value.

Plenium and Bankinter said they acquired the solar portfolio through various alternative-investment vehicles participated by Bankinter’s private banking and institutional clients.

Lightsource BP EMEA and APAC CEO Kareen Boutonnat said: “Transactions like these demonstrate our strong credentials in delivering quality constructed and operational assets as a trusted partner, supporting the renewable ambitions of Plenium Partners and Bankinter Investment.

“In Spain, Lightsource bp continues to move at pace to further progress our gigawatt-scale project development portfolio and the growth of solar required to deliver on national targets.”

Lightsource BP said the sale demonstrates its ability to invest in, deliver and construct solar sites that can support the renewable growth ambitions of investors, utilities and other asset owners.

The company appointed EY as financial advisor and Uría Menéndez as legal advisor for the deal, while Gómez-Acebo & Pombo served as legal advisor to Plenium and Bankinter.

Over the last four years, Lightsource BP has expanded its project development pipeline in Spain to more than 4GW.

The firm employed more than 130 colleagues in the country last year.

Last month, Lightsource BP sold five solar PV projects in the UK, with 300MW of combined capacity, to renewable energy producer Sonnedix.

The projects are located in various regions across the UK and are expected to become operational by 2024.

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