Jorge Energy, the renewable energy subsidiary of Spanish industrial group Grupo Jorge, has sold 703 MW under development solar power capacity in Spain to Lightsource bp, helping the latter grow its total Spanish solar power project pipeline to exceed 3 GW. Of this 3 GW, Lightsource bp acquired 2.6 GW in less than 6 months (see Lightsource BP Expands Spanish Portfolio By 845 MW).
The newest capacity addition of 703 MW comes in the form of 3 projects in Aragon—292 MW and 130 MW in Zaragoza, and 281 MW in Huesca. Lightsource bp envisages the projects to incur an investment of €475 million while creating 1,000 jobs.
The British developer targets to start building the projects in 2022. It plans to find buyers to sell electricity generated from the projects under power purchase agreements (PPA), through a bidding process targeting energy intensive industries that are increasingly looking to lower their electricity costs and meet sustainability goals.
In Aragon alone, it has around 1.1 GW solar capacity at various stages of development or under construction or operational.
In January 2021, the company made its largest acquisition in Europe with over 1 GW capacity in Spain from RIC Energy (see Lightsource BP Invests In 1 GW Solar Capacity In Spain).
Lightsource bp is increasing its clout in the global solar power market with the backing of oil giant bp that expanded its renewables pipeline to 23 GW with 9 GW solar projects it acquired in June 2021 from 7X Energy in the US. And Lightsource bp gets to build them all (see Lightsource BP To Develop 9 GW Solar Acquired By BP).