Lightsource BP has acquired three utility-scale solar projects totalling 156MW in Italy.
The deal, with Horizon Firm, comprises two projects in Sicily and one in Apulia.
They are the 40.9MW Canicatti project and the 58.2MW Torre di Mastro project, both in the province of Agrigento, and the 57.4MW Manfredonia project, which will be developed as an “agri-PV” installation to integrate agriculture and renewable energy.
The three projects are expected to reach ready-to-build status in 2022.
Horizon Firm’s expertise has been “instrumental in identifying and selecting solar project sites that can be developed responsibly to protect local ecosystems and continue agricultural practices”, Lightsource BP said.
In Apulia, the entire land area of the Manfredonia solar project (104 hectares) will offer both immediate and long-term opportunities to boost biodiversity and create diversified income for local rural businesses, Lightsource BP said.
Initially, enhanced pollinator habitats and bee farming will be established within the first five years.
In the long term, 3700 olive trees will be planted around the site boundary for harvesting and other local economic opportunities.
Lightsource BP will work closely in partnership with agricultural community groups and members to establish these additional features of the solar project over time.
Lightsource BP intends to invest €105m locally through these projects, which also includes procurement of local services and the creation of 1300 green jobs in construction, land management, agricultural activities, and engineering.
BP Lightsource Italy lead Giovanni Mascari said: “We acquired this portfolio from Horizon Firm because these projects have been sensitively planned around local ecological and heritage values.
“We intend to build on this good work to demonstrate that solar projects can create opportunities to meet climate goals whilst addressing local economic growth and enabling diversification of income for the agriculture sector.
“We look forward to working closely with local authorities and agriculture specialists to further establish our plans for these projects.”
Christian Chiaruzzi and Agostino Costantino, partners and directors at Horizon Firm, added: “We strongly believe that shifting to a low carbon economy which integrates agriculture and renewable energy is an effective way to achieve the joint goals of the ecological transition and decarbonisation.
The two companies have also entered into an exclusivity agreement where Lightsource BP will acquire an additional 130MW of solar projects, with the aim of completing the transaction in the next few months.
In the case of the 130MW of projects, the companies will also investigate benefits of adding energy storage.
The partnership with Horizon Firm brings Lightsource BP’s Italian solar development pipeline to over 1.5GW.