30 Nov, 23

BP Buys Up Full Control Of Solar Power Developer Lightsource BP

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BP has bought up full control of solar power developer Lightsource BP in a move demonstrating the former’s ambitions outside of fossil fuels. The oil major announced today that it has acquired 50.03 per cent of the business for an initial fee of £254m, adding to the 49.97 per cent it already owned. BP first took a stake in the company in 2017, expanding the operations to 19 countries from three, built a 61GW development pipeline, and grown to over 1,200 personnel. This was built to a near-50 per cent holding in December…

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