UK-based solar developer Lightsource BP has acquired approximately 2GW of solar projects, in various development stages, in Brazil from Enerlife, a Latin American independent renewables developer.
Financial terms related to the deal were not disclosed. Through the deal, Lightsource BP is expected to substantially enhance its portfolio, strengthen experience and establish itself as a major player in the Latin American market.
Lightsource BP group chief operating officer Kareen Boutonnat said: “This move creates a very firm footprint for us across the region and bringing the Enerlife team onboard significantly enhances our local capability and experience. These are the building blocks of which we will grow a very successful solar business across Brazil.”
Some Enerlife team members to move to Lightsource BP as part of the deal
As part of the transaction, some members of Enerlife will join Lightsource BP and will continue serving the acquired portfolio.
Enerlife former CEO Miguel Lobo will join Lightsource BP along with other senior executives from the company. Lobo will join the company as director of business development.
Lobo said: “We are very excited to become part of the Lightsource BP family. Based on our project development experience across Latin America, our team has achieved a significant portfolio in a short space of time.
“I am personally looking forward to growing and progressing further with the solid financial backing, wide experience and extensive procurement and supply chain relationships afforded by Lightsource BP. This is the next step in putting solar firmly on the Brazilian energy map.”
In May, Lightsource BP secured debt investment of $194m (£154.2m) from Caisse de dépôt et placement du Québec (CDPQ) to finance a portfolio of solar assets owned and managed by the company.
As per CDPQ, the debt facility will be used for financing a diversified portfolio of solar assets including more than 100 solar projects located across various countries, totaling more than 700MW.
