Lightsource BP, a solar developer, has signed a 149MW power purchase agreement (PPA) with LyondellBasell, a chemical manufacturer, commencing in 2026.
Under the PPA, Lightsource will provide LyondellBasell with around 284,000 megawatt-hours of solar power from one its developments in Spain. Lightsource said the project will include environmental protection measures such as the reintroduction of native species and sheltered areas for birds.
Zosia Riesner, director of power markets for Europe at Lightsource bp, said: “We take immense pride in our ability to offer tailored and customised solutions to our customers while leveraging Lightsource bp’s global reach to offer innovative structures through our contracts. Our continued investment in growing our pipeline of projects across Spain provides exciting opportunities for collaborations like this in the near future.”
Lightsource bp is jointly owned by bp and recently opened new headquarters in Madrid. In recent years, Lightsource bp has expanded its presence in Spain. In June 2021, the company acquired a pipeline of three solar projects from Spanish company Grupo Jorge. The three projects produce 703MW and are based in Aragon.
At the time, Lightsource bp Spain country head Juan Luis Cantón said: “Building quality and trusted local partnerships is key for our progression across Spain and we look forward to increasing our investments and activities across the region.”
In January 2023, Lightsource sold the Aragon projects to independent renewable energy investors Plenium Partners and Bankinter Investment for an undisclosed sum. However, such a move did not dilute the company’s wider interest in Spain. Lightsource bp EMEA and APAC CEO Kareen Boutonnat said: “In Spain, Lightsource bp continues to move at pace to further progress our gigawatt-scale project development portfolio and the growth of solar required to deliver on national targets.”
Elsewhere in Europe, Lightsource bp signed deals with Greek developer HELLENiQ and a corporate PPA with Microsoft in Poland in the past two months.
LyondellBasell, a company that manufactures and sells plastics, petrochemicals and basic chemicals, said the deal will help it reach 78% of its total renewable energy goal. The goal is to produce at least 50% of its electricity consumption from renewable generation by 2030.
