Lightsource BP Acquires 300 Megawatt Project Portfolio in Spain
October 16 2019 - 5:47AM
Dow Jones News
By Oliver Griffin
Lightsource BP, a renewable energy company in which BP PLC
(BP.LN) holds a 43% stake, said on Wednesday that it has acquired a
300 megawatt project portfolio from Forestalia Group in Spain.
Lightsource BP said the acquisition of the assets--for which no
consideration was disclosed--marked its entry into the Iberian
power market. The company aims for global production of 10
gigawatts a year by 2023.
The company said that its acquisition of permit-ready areas are
vital to its growth in the region.
Acquisition of the projects, split over six sites, will be
financed by Lightsource BP's "innovative structures," the company
said.
Write to Oliver Griffin at oliver.griffin@dowjones.com;
@OliGGriffin
(END) Dow Jones Newswires
October 16, 2019 05:32 ET (09:32 GMT)
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