Lightsource bp supports Plenium Partners and Bankinter Investment solar portfolio growth in Spain
Madrid, Spain, 19 January 2023 – Global solar leader Lightsource bp announces today that it has agreed the sale of its 247MW solar photovoltaic (PV) project to independent renewable energy investors Plenium Partners and Bankinter Investment, supporting one of Southern Europe’s largest renewable portfolio owners to continue its growth across the sector.
The asset is a five-project cluster in Aragón, Spain, which has been in operation since 2021 and demonstrates Lightsource bp’s capability to invest in, deliver and construct quality solar sites that can support renewable growth ambitions of investors, utilities, and other asset owners.
Over the last 4 years, despite the COVID-19 pandemic, Lightsource bp’s team and presence in Spain has continued to grow at pace, reaching over 130 team members last year and a project development pipeline of over 4 gigawatts.
Plenium has closed the transaction together with Bankinter Investment, the investment banking subsidiary of Bankinter, fourth Spanish bank by stock market value. Plenium and Bankinter have completed the purchase of the portfolio through various alternative-investment vehicles participated by Bankinter’s private banking and institutional clients.
Kareen Boutonnat, CEO for EMEA and APAC at Lightsource bp, said:
“Transactions like these demonstrate our strong credentials in delivering quality constructed and operational assets as a trusted partner, supporting the renewable ambitions of Plenium Partners and Bankinter Investment. 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”.
EY was appointed as financial advisor and Uría Menéndez as legal advisor by Lightsource bp for this transaction Gómez-Acebo & Pombo was appointed as Plenium and Bankinter’s legal advisor.
About Plenium Partners
With investments in excess of €6 billion euros, Plenium is a Madrid-based leading investor and manager with a focus on renewable energy, as well as on the energy transition space, circular economy, student housing and infrastructure. In renewables, Plenium has been active since 2007 and currently manages an operating platform with a 3 GW total capacity. Over the past few years, Plenium has successfully invested in plastic recycling facilities, district heating, residential solar and purpose-built student housing, among others.
Bankinter Investment has become a benchmark in alternative investments in the Spanish market thanks to a portfolio of specialized vehicles launched starting from 2016. Since then, it has successfully launched 19 vehicles with committed capital by investors above 4 billion euro which, including project financing, currently represent a portfolio of assets under management of almost 7 billion euros.