Solar major Lightsource BP acquires renewable projects in Brazil
Category: #business  By Deeksha Pant  Date: 2019-07-06
  • share
  • Twitter
  • Facebook
  • LinkedIn
Solar major Lightsource BP acquires renewable projects in Brazil

Lightsource BP, the renowned solar energy market player, has reportedly acquired a large number of projects in Brazil. The move is said to be against Lightsource’s aim to expand its current global capacity.

As per sources familiar with the knowledge of the matter, Lightsource has procured 1.9 GW of projects from Enerlife, Brazil-based independent renewables developer, for an undisclosed sum.

The projects are apparently at various stages of developments ranging from early land permits to grid connection advancements.

For the uninitiated, Lightsource BP is touted as the largest European solar developer. The company has invested more than $3 BN across 2 GW of solar projects worldwide. As per sources, the solar energy conglomerate, over the past few years, has aggressively expanded its operations in the U.S. states – Maryland, California, and Pennsylvania, Egypt, and India.

In a statement supporting the latest move, Kareen Boutonnat, Chief Operating Officer, Lightsource BP said that investment in Brazil projects is a step towards building a lucrative business across the nation. The statement is backed by large potential of solar power generation in the country which currently holds just 1% of the nation’s total electricity generation.

In a bid to facilitate the power generation efforts in the nation, the Brazilian government recently awarded new project licenses for power generation which would add 402 MW of capacity by 2023. As a part of this move, Enerlife was reported to have won approximately 160 MW in five solar projects.

The portfolio of Enerlife comprises 1.9 GW of solar projects; 180 MW of distributed generation projects across five states; 5 MW capacity generation projects across 5 states and 440 MW in late stage development.

As per reliable sources, under the latest agreement, Lightsource BP will target industrial and corporate buyers in both the regulated as well as unregulated markets.

Source Credits: https://in.reuters.com/article/us-lightsourcebp-m-a-brazil/lightsource-bp-makes-major-brazil-solar-acquisition-idINKCN1TZ1A3

  • share
  • Twitter
  • Facebook
  • LinkedIn

About Author

Deeksha Pant

Deeksha Pant    

Endowed with a master’s degree in finance and management, Deeksha Pant brings forth a qualitative approach in her writings. Deeksha presently pens down news articles for groundalerts.com and other websites, harnessing her passion toward working for digital media, PR...

Read More >>

More News By Deeksha Pant

Uber to implement new safety features to revive its U.K. license
Uber to implement new safety features to revive its U.K. license
By Deeksha Pant

Uber had received only a 2-month operating license in September for London   The company touts close to 45,000 licensed drivers in the city Ride-hailing leader Uber has reportedly launched new safety features for its U.K. business, as it s...

BFM partners with Triton Digital to enhance streaming audio content
BFM partners with Triton Digital to enhance streaming audio content
By Deeksha Pant

With the penetration of the internet, the demand for podcast have surged significantly across the globe. This growing trend has encouraged companies to partner with potential podcast service providers to enhance their business reach.  Triton Di...

Balderton launches $400 million fund for European tech startups
Balderton launches $400 million fund for European tech startups
By Deeksha Pant

Tech sector in Europe is seen as lagging behind when compared to its Chinese and U.S. counterparts   Interest from American investors in private tech sector of Europe encouraged Balderton to launch a new fund Balderton, a venture capital f...