Exus Renewables has acquired the 130MWp Cibele solar farm, located in the municipalities of Rio Maior and Cadaval, Portugal, from Lightsource BP. The project is ready for construction, which is expected to begin in the coming months, with the facility slated to start operations in 2026.
Exus highlighted the strategic potential of the solar farm, noting that its location offers the opportunity to add a wind component at a later stage, enhancing the company's hybridisation capabilities. This acquisition is another key addition to Exus' growing renewable energy portfolio in Iberia, following the acquisition of the 51MW Cascante wind farm in Spain earlier this year, which is under construction and expected to be operational by 2025.
Victor López, Head of M&A at Exus Renewables, commented: “This acquisition marks a significant step forward in Exus' journey to becoming a leading global independent power producer and further enhances our renewable energy asset portfolio in Europe. Lightsource BP has done an impressive job of laying the initial groundwork for the development of the Cibele solar farm, and we're excited to be taking on its construction and subsequent operation.
Miguel Lobo, Country Head for Portugal at Lightsource BP, emphasized the importance of collaboration in advancing the renewable energy sector. “We are pleased with the outcome of this operation in collaboration with Exus, as transactions of this kind are a clear demonstration of how partnerships between renewable energy developers and investors can play a vital role in advancing the energy transition,” he said.
Lobo also noted Lightsource BP's ongoing commitment to growing its renewable energy presence in Portugal, with a portfolio exceeding 2.5GW of capacity across projects at various stages of development. “Portugal is a priority market for Lightsource BP and a key contributor to the expansion of the company in Europe,” Lobo added.
