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

December 15, 2017
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

2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

October 23, 2025
Spanish power electronics specialist Ingeteam has won a contract to supply inverters and control systems for European Energy Australia's 100MW Winton North solar-plus-storage project in northeast Victoria.
October 23, 2025
Queensland's rooftop solar systems have exceeded 5GW of output for the first time, marking a milestone in Australia's solar expansion.
Sponsored
October 22, 2025
LONGi vice president Dennis She discusses the value logic behind the company's strategic focus on back contact technology.
October 22, 2025
US thin-film manufacturer First has revealed another transfer of its 45X manufacturing tax credits in a deal worth around US$750 million.
October 22, 2025
Ingeteam’s Mauro Rivola discusses the rapidly growing appetite for co-located solar and storage in Southern Europe.
October 22, 2025
The Queensland government has launched the Social Licence in Renewable Energy Toolkit, providing local councils in Australia with resources to navigate renewable energy project engagement and community consultation processes.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 10, 2026
Frankfurt, Germany