- Exus Renewables acquires the 130 MW Cibele solar farm in Portugal, expanding its European portfolio.
- Portugal targets 20 GW renewable capacity by 2030, with Cibele playing a key role in its energy transition.
- Lightsource BP continues developing projects in Portugal, with over 2.5 GW in progress, emphasising investor partnerships.
Exus Renewables Acquires 130 MW Cibele Solar Farm in Portugal, Strengthening European Renewable Energy Ambitions to expand its footprint in the renewable energy sector. This acquisition marks a crucial addition to the company’s growing European portfolio and underscores Exus’ commitment to strengthening its presence in Europe’s clean energy market.
The Cibele project is located in Rio Maior and Cadaval municipalities, regions well-positioned for solar power generation due to their favourable climate conditions and proximity to existing energy infrastructure.
The construction of the Cibele solar farm is scheduled to commence in the coming months, with completion anticipated by 2026. Once operational, the solar farm will contribute significantly to Portugal’s renewable energy capacity, further advancing the country’s ambitious goal of achieving 20 GW of renewable energy production by 2030.
In addition to solar power generation, Exus is exploring the potential integration of a wind energy component at the site, reinforcing its strategic vision of hybrid energy solutions. This approach aims to maximise energy output, optimise land use, and enhance energy production stability, aligning with the company’s broader innovation and sustainability objectives.
The acquisition of the Cibele project is pivotal for Portugal, as the country experiences rapid growth in its renewable energy sector. The government’s ambitious renewable energy targets have attracted international investments, positioning Portugal as a key player in Europe’s energy transition.
The Cibele project is expected to play a central role in meeting these targets, contributing to the country’s efforts to reduce carbon emissions, increase energy security, and transition to a cleaner, more sustainable energy system.
Lightsource BP, a global leader in solar energy development, initially developed the project. The company has been instrumental in advancing solar energy projects across Europe, and the Cibele project represents a significant milestone in its efforts to support Portugal’s energy transition.
With a portfolio of more than 2.5 GW of projects in various stages of development in Portugal, Lightsource BP continues to play an active role in shaping the country’s renewable energy landscape.
Commenting on the acquisition, Miguel Lobo, Country Head for Portugal at Lightsource BP, stated, “This partnership illustrates the critical importance of collaboration between developers and investors in accelerating the global energy transition. By working together, we can achieve meaningful progress toward a sustainable future.”
Exus Renewables sees the acquisition of the Cibele solar farm as a key component of its long-term strategy to expand its renewable energy assets across Europe. The company manages over 6 GW of global renewable energy projects, focusing on solar, wind, and hybrid solutions.
This acquisition aligns with Exus’ broader goals of diversifying its portfolio, enhancing operational efficiency, and driving sustainable energy growth in key markets. As the company continues to invest in strategic projects, it aims to play a leading role in Europe’s efforts to meet its climate goals and build a resilient, low-carbon energy system.
The Cibele acquisition involved a range of expert advisors, reflecting the complexity and scale of the project. Exus Renewables received legal counsel from Cuatrecasas, a leading international law firm with expertise in renewable energy transactions.
Meanwhile, Lightsource BP was supported by a consortium of financial and technical advisors, including PLMJ, Capcora, and Enertis. These firms provided critical guidance throughout the negotiation and due diligence process, ensuring a successful and seamless transaction.
As Portugal continues to pursue its renewable energy ambitions, projects like the Cibele solar farm serve as a testament to the country’s growing influence in the European energy market. The Cibele project reinforces Portugal’s leadership in renewable energy development and highlights the importance of international partnerships in driving the global energy transition.
By attracting significant foreign investments and fostering collaboration between leading industry players, Portugal is well-positioned to meet its climate goals and establish itself as a hub for renewable energy innovation.
Exus Renewables’ acquisition of the 130 MW Cibele solar farm represents a significant step forward in the company’s European expansion strategy. With construction to begin soon, the project will contribute to Portugal’s renewable energy capacity and help the country achieve its 2030 targets. As Exus continues investing in strategic renewable energy projects, it remains committed to leading Europe’s energy transition and supporting the global shift toward sustainable, clean energy solutions.