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BP buys solar power project in Spain for up to € 500 million

© Reuters. File photo: January 15, 2015, the BP logo is reflected on the car window of a gas station in London. REUTERS / LukeMacGregor / File Photo

Madrid (Reuters)-Energy Giant BP (LON :) is about to buy a Spanish solar project from conglomerate Grupo Jorge for € 400-500 million, the Expansion newspaper reported Friday.

BP’s solar unit, Lightsource bp, will take over a portfolio of 700 MW solar projects from Grupo Jorge, a privately held company with assets in pork, agriculture and renewables, Expansion said. Stated.

Spain has become one of the most active markets for solar and wind power. Many large companies, including BP rivals such as Total, Repsol (MC :) and Galp, have been buying assets in recent months.

In February, BP itself announced the acquisition of a portfolio of solar projects with a potential capacity of 845 MW.

BP and Grupo Jorge spokespersons did not respond to emails or phone calls for comment.

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BP buys solar power project in Spain for up to € 500 million

Source link BP buys solar power project in Spain for up to € 500 million

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