File photo. Picture: REUTERS/AMIT DAVE
File photo. Picture: REUTERS/AMIT DAVE

London — Solar energy developer Lightsource BP has acquired a large number of projects in Brazil with a potential to nearly double its global capacity.

The London-based firm, in which BP holds a 43% stake, said in a statement it bought 1.9GW of projects from independent renewables developer Enerlife for an undisclosed sum.

The utility-scale solar projects are at different stages, from early land permits to more advanced developments with grid connections. Solar power contributes just over 1% of Brazil’s total electricity generation, which is expected to soar in the coming decades.

“These are the building blocks of which we will grow a very successful solar business across Brazil,” Lightsource BP COO Kareen Boutonnat said.

Lightsource will target mainly corporate and industrial buyers in both the regulated and unregulated market, according to Vlasios Souflis, director for international business development.

The Brazilian government last week awarded licences for new power generation projects that would add 402MW of capacity by 2023 at record-low price for solar generation. Enerlife was awarded over 160MW in five solar projects.

Lightsource BP is the largest European utility solar developer with over $3bn invested across nearly 2GW of solar projects around the world, according to Lightsource BP’s statement.

The company has in recent years expanded its operations in the US states of California, Pennsylvania and Maryland, as well as in Egypt and India.

The Enerlife portfolio consists of 1.9GW of solar projects, including of 440MW in late stage development, as well as 180MW of distributed generation projects across five states, each one up to 5MW capacity, Lightsource BP said.

Reuters