Press releases

Frankfurt am Main, 09.01.2025

Lightsource bp, a global leader in the development and management of utility-scale onshore renewable energy projects, has announced the sale of a 130 MWp ready-to-build solar PV plant in Portugal. The project, designed with hybridization potential to incorporate wind energy in the future, has been acquired by Exus Renewables, an independent power producer and asset management firm specializing in the renewable energy sector. Capcora, a German consulting firm, served as the exclusive sell-side M&A advisor to Lightsource bp for this transaction.

The Cibele solar farm is located in the municipalities of Rio Maior and Cadaval in Portugal. The project represents another substantial addition to Exus’ expanding renewable energy footprint in Iberia. Construction is slated to begin in the coming months, and the facility is scheduled to enter operation in 2026. The strategic location of the solar farm means a wind component can be added at a later date, further enhancing Exus’ hybridisation capabilities and ambitions.

“This acquisition marks a significant step forward in Exus’ journey to becoming a leading global independent power producer and further enhances our renewable energy asset portfolio in Europe,” said Victor López, Head of M&A at Exus Renewables. “Lightsource bp has done an impressive job of laying the initial ground work for the development of the Cibele solar farm, and we’re excited to be taking on its construction and subsequent operation. The project will enable us to continue making smart investment decisions, while delivering on our mission to create a greener and more sustainable future for all.”

Miguel Lobo, Country Head for Portugal at Lightsource bp said: “We are pleased with the outcome of this operation in collaboration with Exus, as transactions of this kind are a clear demonstration of how partnerships between renewable energy developers and investors can play a vital role in advancing the energy transition. This operation will allow Lightsource bp to continue to grow, further expanding our investment reach to a greater number of projects. We are committed to driving the growth of renewable energy in Portugal, with a robust portfolio of projects at different stages of development and currently exceeding 2.5 GW of capacity.”

“We are thrilled to have played a role in the transfer of this exceptional project,” said Jochen Magerfleisch, Managing Partner at Capcora. “The Cibele solar farm not only contributes to Portugal’s renewable energy capacity but also exemplifies the forward-thinking approach of hybrid projects that maximize resource efficiency. Collaborations like these are crucial for accelerating the energy transition and driving innovation in renewable energy development.”

Cuatrecasas acted as legal advisor on the deal, while Mott MacDonald acted as technical advisor. Lightsource bp was advised on financial matters by Capcora, with PLMJ as its legal advisor and Enertis on technical aspects.

About Lightsource bp:

Lightsource bp is a global leader in the development and management of utility-scale onshore renewable and energy storage solutions. Our purpose is to deliver affordable and sustainable power for businesses and communities around the world. Our team includes over 1,200 industry specialists, working across 19 global regions. We provide full scope development for our projects, from initial site selection, financing and permitting through to long-term management of projects and power sales to our clients. Lightsource bp was fully acquired by bp in 2024. www.lightsourcebp.com

About Exus Renewables:

Exus Management Partners (Exus) is a renewables asset management and development firm. We work on behalf of an increasing variety of investors to source investment opportunities, acquire assets and undertake full technical and commercial management of renewable energy portfolios worldwide.

In doing so, Exus draws on its wide-ranging expertise to help its investors optimise technical performance, reduce financial risks and ensure long-term revenue certainty.

Exus has a growing global presence, with offices in Spain, Portugal, France, Italy, Germany, USA, Canada and Mexico. It currently manages an operational portfolio of around 10 GW. www.exuspartners.com

About Capcora:

Capcora is an independent financial advisory boutique specializing in M&A and project finance services to accelerate the energy transition in Europe. Founded in 2015, the Frankfurt-based company helps its clients succeed in the renewable energy and infrastructure sectors by advising them on sell-side and buy-side transactions, and by raising mezzanine, unitranche or senior debt.