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

Mar 2, 2023 01:51 PM ET
  • Lightsource bp has actually obtained the environmental go-ahead for 19 solar power projects in Spain.
  • The firm will bring an investment of concerning EUR 1.2 billion for the solar projects.

International renewable resource conglomerate Lightsource bp-- a joint venture between Lightsource as well as British Petroleum-- has held that its route for the development of solar power projects of multi-GW stands gotten rid of in Spain. In a key development, Lightsource bp has actually received the environmental go-ahead for 19 solar energy projects having complete advancing capacity of 1620 MW.

Lightsource bp discussed that the solar PV projects will be developed in the Spanish districts of Zaragoza, Seville, Cordoba, Toledo and Valladolid. The company will certainly bring an investment of regarding EUR 1.2 billion for the solar projects.

The building of solar power projects will certainly produce work for about 5,000 persons as well as 90 professionals will certainly be needed in the operations of the plants.

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

Fernando Roger, Development Director for Southern Europe, Lightsource bp, claimed, "At Lightsource bp we are very happy to have achieved environmental authorisation for these projects, a turning point that shows the business's management setting in Spain as well as the dedication of our group. Our passion and also commitment are clear: Spain is a key market in our international growth approach."

"The accomplishment of outcomes like these demonstrates our experience in the development of quality assets and exactly how we can add to the decarbonisation of Spain, standing for a chance for energies and business customers that intend to get renewable energy through PPA contracts and also various other frameworks," he stated.

The director likewise claimed that Lightsource bp will be engaging with possible buyers for the power through long-term eco-friendly PPAs including that with excellent solar sources, large-scale solar PPAs in Spain represent excellent value for buyers to fulfill European renewable resource purchase goals.

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

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