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According to foreign media news, British energy giant BP is about to buy its solar project
in Spain from Grupo Jorge Group for 4-500 million euros.
Local media outlet Expansion reported that BP's solar power unit Lightsource will take over a PV project with a total potential capacity of 700 MW from Grupo Jorge, a private company
with pork, agriculture and renewable energy assets.
The company said three new projects in Arago's northeast region will start construction next year, adding that it will look for customers to enter into PPAs
on the electricity that will be generated at the sites.
Last year, BP CEO Bernard Looney pledged to reduce oil production and grow its renewable energy business 20-fold over 10 years with a view to drastically reducing carbon emissions
by 2050.
Lightsource bp did not say how much it would pay for the Spanish project, but calculated that it would cost 475 million euros
in the process of building and connecting the grid.
It is estimated that the development of these projects will create 1,000 jobs
.
Spain has become one of
the most active markets for solar and wind energy in Europe.
In recent months, many large companies, including BP's rivals Total, Repsol and Gapp, have purchased green energy assets
.
According to foreign media news, British energy giant BP is about to buy its solar project
in Spain from Grupo Jorge Group for 4-500 million euros.
Local media outlet Expansion reported that BP's solar power unit Lightsource will take over a PV project with a total potential capacity of 700 MW from Grupo Jorge, a private company
with pork, agriculture and renewable energy assets.
The company said three new projects in Arago's northeast region will start construction next year, adding that it will look for customers to enter into PPAs
on the electricity that will be generated at the sites.
Last year, BP CEO Bernard Looney pledged to reduce oil production and grow its renewable energy business 20-fold over 10 years with a view to drastically reducing carbon emissions
by 2050.
Lightsource bp did not say how much it would pay for the Spanish project, but calculated that it would cost 475 million euros
in the process of building and connecting the grid.
It is estimated that the development of these projects will create 1,000 jobs
.
Spain has become one of
the most active markets for solar and wind energy in Europe.
In recent months, many large companies, including BP's rivals Total, Repsol and Gapp, have purchased green energy assets
.
