BP completes acquisition of full stake in Lightsource bp, expanding renewable energy capabilities

BP has finalized its acquisition of the remaining 50.03% interest in Lightsource bp, fully integrating its 62 GW renewable energy pipeline across 19 markets worldwide into BP’s portfolio. Although BP now has full ownership, Lightsource bp will retain its brand and operate independently.

This acquisition enhances BP’s renewable energy reach, supporting its broader low-carbon initiatives, including power trading, EV charging, biofuels, and green hydrogen production. BP’s executive vice president for gas and low carbon energy, William Lin, highlighted the acquisition as a strategic move that combines wind, solar, and battery assets to create value and meet BP’s internal power needs.

Following the acquisition, BP has consolidated Lightsource bp’s financial debt and lifted a pre-existing guarantee. BP aims to maximize Lightsource bp’s potential by exploring opportunities to bring in a strategic partner.

Lightsource bp’s CEO, Joaquin Oliveira, expressed enthusiasm for expanding the company’s profitability, growth, and performance in line with BP’s low-carbon energy objectives.