Lightsource BP is making a 500MW utility-scale solar and storage portfolio available for PPAs in 2025 across Iberia.
This region that benefits from high solar radiation and where solar power remains the most competitively priced.
In recent years PPAs have emerged as a key tool for the energy transition in Spain and Portugal, the developer said.
It secured 10 PPAs totalling 1300MW across Europe, the Americas and APAC in 2024.
Lightsource BP’s track record of PPAs includes contracts with H&M Group, Microsoft, LyondellBasell and Google.
Zosia Riesner, global chief commercial officer at Lightsource BP, said: “Our success over the last year demonstrates our ability to meet the rising demand for flexible and tailored renewable PPAs from corporate and utility energy buyers worldwide.
“Innovation is key to this, with our team continuing to meet a wide range of structures, geographies and tenures – including multi-buyer, virtual, physical and hybrid.
“We look forward to building on this momentum with exciting opportunities in Iberia and globally in the year ahead.”
Lightsource BP said its continued success stems from the experience and highly specialised track record of its in-house Power Markets team, who are able to innovate, tailor and deliver PPAs that address the specific needs of the buyer, leveraging the company’s global reach and international renewables project pipeline.
An example of this is company’s role in spearheading the creation of a collective virtual PPA (CVPPA) with the Fashion Pact, the largest CEO-led initiative for sustainability in the fashion and textile industry, it added.
This included a bespoke multi-buyer structure, linked to a Lightsource BP’s solar portfolio in Spain that would meet the needs of 12 fashion brands.
This enabled the contract to be signed by all parties within months, and created an equitable platform for the initiative’s members to access competitively priced, renewable power, the developer said.
This multi-buyer PPA structure acts as a collective deal, meaning businesses that don’t necessarily require huge volumes of electricity on their own can combine their demand and find a simple and efficient way to access renewable power, it added.