Exus Renewables has acquired the 130MW ready-to-build Cibele solar farm, located in the municipalities of Rio Maior and Cadaval in Portugal, from Lightsource, a developer and manager of utility-scale onshore renewable energy projects.
The project represents another substantial addition to Exus’ s expanding renewable energy footprint in Iberia, following the acquisition of the Cascante 51MW Spanish wind farm earlier this year, which is under construction and will become operational in 2025.
Construction for this latest acquisition is slated to begin in the coming months, and the facility is scheduled to enter operation in 2026.
Victor López, head of M&A at Exus Renewables, said: “This acquisition marks a significant step forward in Exus’ s journey to becoming a leading global independent power producer and further enhances our renewable energy asset portfolio in Europe.
“Lightsource has done an impressive job of laying the initial groundwork for the development of the Cibele solar farm, and we’re excited to be taking on its construction and subsequent operation. The project will enable us to continue making smart investment decisions, while delivering on our mission to create a greener and more sustainable future for all.”
Miguel Lobo, country head for Portugal at Lightsource said: “We are pleased with the outcome of this operation in collaboration with Exus, as transactions of this kind are a clear demonstration of how partnerships between renewable energy developers and investors can play a vital role in advancing the energy transition. This operation will allow Lightsource bp to continue to grow, further expanding our investment reach to a greater number of projects.”
Exus has extensive experience and expertise in developing, constructing, and operating both owned and third-party assets in Portugal. The team in Portugal is currently developing 200MW of wind and solar assets, with an additional 70MW under construction, and 130MW already operational. Across Europe, Exus currently manages over 6GW of renewable energy assets and plans to continue expanding its portfolio over the coming years by acquiring, developing, and managing additional projects.
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