Law firm trio advises on Lightsource BP´s PV acquisition from Grupo Jorge

GOLD Abogados has advised Grupo Jorge on the sale of a 703 MW photovoltaic portfolio to Lightsource BP, represented by Pérez-Llorca and Garrigues



Lightsource BP has acquired three PV Projects of 292 MW, 130 MW (both located in the province of Zaragoza) and 281 MW (located in the province of Huesca) from Spain´s Grupo Jorge.

Grupo Jorge is an important Spanish industrial group with a presence in over 75 countries and with 5,000 employees. Its energy branch, Jorge Energy, includes both operational and development renewable energy projects across wind and solar technologies and has a highly experienced team with deep knowledge in developing renewable energy projects.

Lightsource BP, a global leader in the development and management of solar energy projects, is 50% owned by British Petroleum and Lightsource (UK solar developer).

Under this relevant transaction, Lightsource BP will invest €475 million creating around 1,000 jobs. This latest acquisition in Spain takes Lightsource BP’s project development pipeline in the country to over 3GW. This deal also builds on Lightsource BP’s growing presence in Aragon with around 1.1GW of projects at various stages of development or construction, as well as in operation.

Lightsource BP has been advised by Perez-Llorca (Legal advisor) and Garrigues (tax advisor), while GOLD Abogados acted for Grupo Jorge.

GOLD Abogados´ team was led by M&A and Corporate partner José de Santiago (pictured top left), Project Finance and Regulatory partner Israel Gómez-Caro (pictured top centre) and M&A and Corporate of counsel Beatriz de Basterrechea (pictured top right).

Perez-Llorca´s team advising Lightsource BP was led by M&A and Corporate partner Javier Carvajal (pictured bottom left), supported by M&A associates Victoria Martín Di Costanzo, Jesús García- Morato and Almudena Gurpegui, along with Regulatory and Real Estate teams.

Garrigues advised Lightsource BP with a Tax team comprising partner Vicente Bootello (pictured bottom centre), principal associate María Teresa Deltell (pictured bottom right) and principal associate Nicolás Cremades.

This complex deal is one of the most relevant M&A transactions closed in 2021 in the Spanish renewable energy sector.

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