UK solar power developer Lightsource BP has acquired 2GW of greenfield solar projects from Brazil’s Enerlife.
Lightsource BP paid an undisclosed amount for the projects, which are in various stages of development by Enerlife.
The acquisition also saw several Enerlife executives join Lightsource BP to oversee the development of the projects including former CEO Miguel Lobo, who joined as Lightsource BP’s new Director of Business Development, according to a press release.
“Through this acquisition, Lightsource BP will significantly enhance its portfolio, bolster experience and establish its ambition to become a major player in the local solar market,” the release stated.
The projects are Lightsource BP’s first in Brazil and adds to an existing 2GW portfolio under management and a pipeline of an additional 3GW in Europe and North America, according to the company’s website.
Enerlife is an independent solar developer and operates three centralised generation projects and four distributed generation projects in Ceará, Rio Grande do Norte, Pernambuco and Minas Gerais, according to the company’s website.
UK oil and gas company BP acquired a 43% equity stake in Lightsource for USD 200m paid over three years in 2013.
Lightsource BP and Enerlife did not return calls seeking comment.