Exus Renewables Expands Hybrid Energy Portfolio with Acquisition of 130MWp Cibele Solar Farm from Lightsource bp

Exus Renewables Expands Hybrid Energy Portfolio with Acquisition of 130MWp Cibele Solar Farm from Lightsource bp

(IN BRIEF) Exus Renewables has acquired the 130MWp Cibele solar farm in Portugal from Lightsource bp, expanding its renewable energy portfolio in Iberia. Construction is set to begin soon, with operations expected to start in 2026. The solar farm’s strategic location allows for future integration of wind energy, aligning with Exus’ hybrid energy ambitions. This acquisition follows Exus’ purchase of a 51MW wind farm in Spain earlier this year. Exus has a strong presence in Portugal, with 200MW of wind and solar projects under development. The Cibele project supports Portugal’s goal of increasing solar capacity to 20GW by 2030.

(PRESS RELEASE) LONDON, 8-Jan-2025 — /EuropaWire/ — Lightsource bp, a global leader in solar development, management and operations, announces that Exus Renewables, a prominent global player in the renewable energy sector, has secured the acquisition of the 130MWp ready-to-build Cibele solar farm, located in the municipalities of Rio Maior and Cadaval in Portugal, from Lightsource bp. This acquisition significantly expands Exus’ renewable energy presence in Iberia, following the earlier purchase of the Cascante 51MW Spanish wind farm, which is currently under construction and set to become operational in 2025.

Scheduled to commence construction in the coming months, the Cibele solar farm is expected to be operational by 2026. Its strategic location provides the flexibility for the future addition of a wind component, enhancing Exus’ ambitions in hybrid energy solutions and further expanding its capabilities in the renewable energy sector.

Victor López, Head of M&A at Exus Renewables, expressed his enthusiasm about the acquisition, stating, “This is an important milestone for Exus as we move toward becoming a leading global independent power producer. The Cibele solar farm will bolster our renewable energy portfolio in Europe, and we’re eager to take on the construction and operation of the project. Lightsource bp has already laid a strong foundation for the farm, and we’re excited to build upon it as we continue making impactful investment decisions that contribute to a more sustainable future.”

Miguel Lobo, Country Head for Portugal at Lightsource bp, also shared his thoughts on the transaction: “This partnership with Exus is a clear example of how collaboration between renewable energy developers and investors can drive the energy transition forward. This transaction supports Lightsource bp’s growth ambitions and enables us to further extend our investment reach, with plans to continue expanding our presence in Portugal.”

Lobo further emphasized Lightsource bp’s commitment to the Portuguese renewable energy sector, noting that the company’s portfolio in Portugal now exceeds 2.5 GW, with many projects at advanced stages of development. Portugal is a critical market for Lightsource bp as it looks to expand its European footprint.

Exus has a proven track record in Portugal, with extensive experience in developing, constructing, and operating renewable energy assets. Currently, the company is working on 200MW of wind and solar projects in Portugal, with an additional 70MW under construction and 130MW already operational. Across Europe, Exus manages over 6GW of renewable energy assets and continues to seek new opportunities for growth through acquisitions, developments, and partnerships.

The new solar project aligns with Portugal’s ambitious renewable energy strategy, which aims to increase the country’s solar capacity to 20GW by 2030. Exus’ involvement in the Cibele solar farm will play a key role in helping Portugal achieve its renewable energy goals.

Cuatrecasas acted as legal advisor for the deal, with Mott MacDonald serving as the technical advisor. Lightsource bp was supported by Capcora for financial advisory services, PLMJ for legal matters, and Enertis for technical aspects.

Media contact:
press@lightsourcebp.com

SOURCE: Lightsource bp Renewable Energy Investments Limited