British solar energy company invests €900M over six years

Lightsource BP, a subsidiary of British oil company BP, said on Friday it would invest €900 million over the next six years in five “large-scale” solar energy projects in Portugal, in a partnership with INSUN.

“Together, the projects aim to add more than 1.35 gigawatts (GW) of low-carbon renewable energy to Portugal’s energy matrix,” Lightsource BP said in a statement.

Currently “in an initial development phase”, the projects will be located in the regions of Moura, Castelo Branco, Mogadouro, Chamusca and Viseu, where they could create “more than 3,000 green jobs.”

Once operationalised, “they will be working for the next 30 years, contributing to the creation of long-term economic development opportunities, in addition to local renewable energy production”, Lightsource BP said.

The projects will be promoted in partnership with Portuguese INSUN, owned by Henrique Rodrigues, former president of Martifer Solar, dedicated to developing projects for solar energy production in Portugal.

Lightsource BP announced its entry into the Iberian energy market in late 2018, initially with a facility in Madrid and, in 2019, in Lisbon, with a local office and team.