Energy company BP is set to buy solar power projects worth between €400 million and €500 million from Grupo Jorge conglomerate in Spain. According to a report by Expansion, Lightsource BP, the company’s solar power unit, would take over a portfolio of solar PV projects with a cumulative capacity of 700MW from the Grupo Jorge group.
Spain’s renewable energy market is seen as a growing one with adequate potential. Total, Repsol and Galp recently bought assets in the Mediterranean country. BP announced earlier in the year its acquisition of a portfolio of solar projects with a potential capacity of about 845MW.