By Adria Calatayud

Lightsource BP, a solar business which is 50%-owned by energy giant BP PLC, said Thursday that it has acquired a 1.06-gigawatt portfolio of projects in Spain from RIC Energy for an undisclosed sum.

Lightsource BP said it will work with RIC Energy to develop 14 sites, the first of which is expected to reach ready-to-build status by the end of 2021.

"This is our largest European acquisition to date, adding 1GW to Lightsource BP's current pipeline and further cementing our presence in the Spanish energy market," Lightsource BP Chief Executive of Europe and International Kareen Boutonnat said.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

January 21, 2021 07:33 ET (12:33 GMT)

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