Lightsource bp to invest in Portuguese solar power plants

Lightsource bp to invest in Portuguese solar power plants

01 Jun 2021

Lightsource bp has announced an investment of €900m for developing five utility-scale solar power projects with a combined capacity of over 1.35GW in Portugal.

The company has also forged a co-development partnership with local company INSUN for the solar projects.

The projects involved in the partnership are in the early development stage. They will be built in the Moura, Castelo Branco, Mogadouro, Viseu and Chamusca regions.

Lightsource bp will make the investment over six years. The investment will help in creating jobs for local people, procurement of domestic services, improvements in infrastructure, enhancements to biodiversity and community initiatives.

Apart from generating renewable power locally, the five solar power projects will provide opportunities to build on additional economic development in the long-term, with their operation lifetime of nearly 30 years.

Lightsource bp’s new investment in Portuguese solar power will take its solar development pipeline in the Iberian Peninsula to more than 3.5GW. This includes a capacity of more than 2GW in Spain.

Earlier this month, Lightsource BP acquired three solar projects in Italy with a combined capacity of 156MW from Horizon Firm. The acquisition expanded the firm’s Italian solar development pipeline to more than 1.5GW.

For more information please visit EICDataStream.

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