Lightsource BP has sold a 247MW cluster of solar projects in Spain to independent renewable energy investor Plenium Partners and Bankinter Investment.
The asset, consisting of five solar installations in Aragón, has been operational since 2021. Plenium and Bankinter Investment, the investment banking subsidiary of Bankinter, the fourth largest Spanish bank by stock market value, closed the transaction. The value of the deal was not disclosed.
Plenium and Bankinter have completed the acquisition of the portfolio through various alternative investment vehicles participated by Bankinter's private banking and institutional clients.
Kareen Boutonnat, CEO for EMEA and APAC at Lightsource BP, said: “Transactions like these demonstrate our strong credentials in delivering quality constructed and operational assets as a trusted partner, supporting the renewable ambitions of Plenium Partners and Bankinter Investment.
“In Spain, Lightsource BP continues to move at pace to further progress our gigawatt-scale project development portfolio and the growth of solar required to deliver on national targets.”
Lightsource BP appointed EY as their financial advisor and Uría Menéndez as their legal advisor for the deal. Gómez-Acebo & Pombo was appointed as the legal advisor for Plenium and Bankinter.
In the past four years, Lightsource BP has significantly expanded their business in Spain, with a team of over 130 members and a development pipeline exceeding 4GW.
