Lightsource BP has announced it will make a 500MW utility-scale solar and storage portfolio available for Power Purchase Agreements (PPAs) across Spain and Portugal in 2025. The Iberian region, known for its high solar radiation, continues to offer competitive pricing for solar power, making it a key focus for the company's renewable energy expansion.
The move comes as PPAs have become a pivotal tool for the energy transition in both countries. In 2024, Lightsource BP secured 10 PPAs totalling 1,300MW across Europe, the Americas, and Asia-Pacific.
Zosia Riesner, global chief commercial officer at Lightsource BP, highlighted the company's success in adapting to the increasing demand for flexible and tailored renewable PPAs. She said, “Our success over the last year demonstrates our ability to meet the rising demand for flexible and tailored renewable PPAs from corporate and utility energy buyers worldwide.”
Lightsource BP's PPA track record includes deals with major companies such as H&M Group, Microsoft, LyondellBasell, and Google. The developer also pointed to its in-house Power Markets team, which has been integral in structuring and delivering PPAs suited to the specific needs of its clients, leveraging the company's global reach and extensive renewables project pipeline.
A notable example of innovation is Lightsource BP's role in creating a collective virtual PPA (CVPPA) for the Fashion Pact, a CEO-led sustainability initiative in the fashion and textile sector. The bespoke multi-buyer structure linked to the company's solar portfolio in Spain enabled 12 fashion brands to sign a contract within months, providing them access to competitively priced renewable power.
“We look forward to building on this momentum with exciting opportunities in Iberia and globally in the year ahead,” Riesner added.
