Lightsource BP Expands US Portfolio
Lightsource BP, Europe's biggest solar energy developer, will expand its U.S. portfolio after signing a deal to build two solar projects, the UK-based company said on Wednesday.
The 16 megawatt (MW) Wildflower Solar project will be built in California and has secured a 20 year plus power purchase agreement (PPA) with California’s Sacramento Municipal Utility District.
Lightsource BP will also develop a 9 MW solar project in New Mexico which has a PPA with New Mexico's Continental Divide Electric Cooperative.
No financial details were released.
Both projects will be constructed and completed in 2019, Lightsource BP CEO Nick Boyle said in a phone interview.
Oil major BP acquired a 43 percent stake in Lightsource last year.
"The U.S. is a hugely important market for BP and it is hugely important for Lightsource BP," Boyle said.
"We are working on a very significant pipeline in the U.S. and this announcement is one of many that will flow though," he said.
Earlier this year Lightsource BP bought a 135 MW portfolio of six solar assets in Pennsylvania and Maryland from Orion Renewable Energy Group LLC.
It also announced plans to build a 20 MW plant in Kansas which has a 25 year power purchase agreement with Mid-Kansas Electric Company.
(Reporting by Susanna Twidale and Ron Bousso; editing by Jason Neely)