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.

Read Next

November 20, 2025
Climate Fund Managers (CFM) has started commercial operations at the 26.4MW Pétalo del Norte I solar PV project in Colombia.
November 19, 2025
Econergy Renewable Energy has successfully connected its 52MW Resko solar project in Poland to the national electricity grid.
November 19, 2025
The US Department of Energy (DOE) will need to invest US$25 billion by 2030 to maintain its position as a leader in the global energy sector.
November 19, 2025
PVV Infra has outlined plans to build a 1GW TOPCon solar cell production line in the Indian state of Andhra Pradesh.
November 19, 2025
The world invested US$554 billion into solar PV projects in 2024, leading renewable electricity generation sources, according to IRENA.
November 19, 2025
Recurrent Energy has sold its 275MWdc Gunning hybrid solar-plus-storage project in New South Wales, Australia.

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 24, 2026
Lisbon, Portugal
Solar Media Events
June 16, 2026
Napa, USA