BP re-enters PV market with acquisition of minority stake in UK’s Lightsource

Facebook
Twitter
LinkedIn
Reddit
Email

BP is to acquire a 43% stake in prolific UK-based solar developer Lightsource in what stands to be a significant new solar partnership.

The duo will form a strategic partnership which will help fund Lightsource's worldwide solar pipeline. BP will pay US$200 million (£148 million) for the stake over three years and gain two seats on Lightsource's board of directors.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

The company is to be renamed Lightsource BP in the process and will complement BP’s existing alternative energy business which has lacked a photovoltaic division.

Lightsource BP is to target demand for utility-scale solar projects, either connected to the grid or to corporates through private wire agreements, in the US, India, Europe and the Middle East.

It is now however BP’s first foray into photovoltaics. BP Solar – formed through various acquisitions in the 80s and 90s – was famously shuttered in late 2011 after years of sell-offs and factory closures.

At the time BP blamed “continuing global economic challenges” that had significantly impacted the solar industry, making it difficult for BP to achieve a return on its initial investment.

As a result solar had been somewhat neglected from BP’s alternative energy efforts, until now.

Bob Dudley, group chief executive at BP, said the company was “excited to be coming back to solar” after a six-year hiatus.

“While our history in the solar industry was centred on manufacturing panels, Lightsource BP will instead grow value through developing and managing major solar projects around the world. I am confident that the combination of Lightsource’s expertise and experience with BP’s relationships and resources will propel this innovative business to even more rapid growth,” he said.

You can read more on this story on PV-Tech's sister publication Solar Power Portal

22 October 2026
India Expo Mart, Greater Noida
Whether you're looking for new technologies, trusted partners, or fresh business opportunities, you'll find them at the 19th Renewable Energy India Expo 2026. Join 55,000+ industry professionals and 1,000+ exhibiting brands across 14 halls featuring solar, bioenergy, battery storage, and the Germany Pavilion. It's where the clean energy sector comes together to exchange ideas, build partnerships, and drive business forward.
3 November 2026
Málaga, Spain
Understanding technology and supplier selection for Europe’s utility-scale PV market in 2027. PV ModuleTech Europe 2026 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of PV module, inverter and battery supplier selection; product availability, technology offerings, supply chain traceability, quality assurance, factory auditing, system reliability, and supplier bankability.
2 February 2027
London, UK
Returning in 2027 for its 14th edition, Solar & Storage Finance Europe will bring together the brightest minds representing funds, banks, developers, utilities, government and industry across Europe and the UK on a programme that is solutions-focused from top to tail. The event is designed to enable leaders at the forefront of solar and storage investment and deployment in Europe to scale, learn and land themselves industry defining partnerships.

Read Next

September 2, 2026
Waaree Energies approved US$37 million to expand its Arizona module plant to 1.6GW and consolidate 2.11GW in Gujarat.
September 2, 2026
In the third part of this week’s series exploring the US solar supply chain, we track how quickly announced manufacturing capacity is translating into real production.
September 2, 2026
India’s solar module capacity has reached 233GW, with factories operating at 35–40% utilisation amid rising overcapacity.
September 2, 2026
Europe’s PV fleet has removed the need for over €30 billion (US$34.74 billion) in gas imports since the start of the Iran conflict.
September 1, 2026
US module production is at a near saturation point, but significant capacity gaps persist further up the supply chain, writes head of PV Tech Research, Moustafa Ramadan.
September 1, 2026
The Bundesnetzagentur has launched its third rooftop solar PV tender of the year, which aims to award 296.3MW of new rooftop solar capacity.

Upcoming Events

Solar Media Events
October 13, 2026
San Francisco Bay Area, USA
Solar Media Events
November 3, 2026
Málaga, Spain
Solar Media Events
November 24, 2026
Warsaw, Poland
Solar Media Events
February 2, 2027
London, UK