Exus Renewables has acquired Lightsource bp’s 130MWp Cibele solar farm in Portugal, marking a significant expansion of its renewable energy portfolio in Europe.
Located in the municipalities of Rio Maior and Cadaval, the ready-to-build project is slated for construction in the coming months and is expected to begin operations in 2026. The site’s strategic location allows for potential hybridization with a future wind component, aligning with Exus’ hybrid energy ambitions.
This acquisition follows Exus’ earlier purchase of the Cascante 51MW Spanish wind farm, underlining its commitment to becoming a leading global independent power producer. The project also supports Portugal’s renewable energy goals, contributing to its target of reaching 20GW of solar capacity by 2030. Exus’ growing presence in Portugal includes 200MW under development, 70MW under construction, and 130MW operational assets, as part of a broader European portfolio exceeding 6GW.
Victor López of Exus highlighted the strategic value of the acquisition, emphasizing the company’s focus on sustainable energy solutions. Miguel Lobo of Lightsource bp praised the collaboration, noting its importance in advancing Portugal’s energy transition and Lightsource bp’s commitment to the country’s renewable energy growth, with over 2.5GW of capacity under development.
Legal and technical advisors for the transaction included Cuatrecasas, Mott MacDonald, Capcora, PLMJ, and Enertis, ensuring a seamless transition and supporting the future success of the Cibele solar farm.