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

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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,…

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BP considers selling minority stake in offshore wind division

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BP is exploring the sale of a minority stake in its offshore wind division to offset the substantial development costs associated with its projects, as reported by Reuters. This move follows shareholder pressure over BP’s 2020 energy transition strategy, as profits from renewables have fallen while oil and gas margins have risen. The company has engaged Bank of America to identify potential partners as it seeks to reduce its financial burden in the growing offshore…

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Lightsource bp, Contact Energy secure NZ$267 million financing for 168 MW solar farm in New Zealand

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Lightsource bp and its joint venture partner Contact Energy have secured a NZ$267 million (US$160 million) financing package for the development of the Kōwhai Park solar farm, a 168MWdc project in Christchurch, New Zealand. The green financing loan has been jointly underwritten by Westpac, Mizuho, China Construction Bank, and Intesa Sanpaolo. The Kōwhai Park solar farm, featuring approximately 300,000 solar panels, marks the first phase of Christchurch Airport’s renewable energy precinct. Construction is scheduled to…