London, March 2025 – BP, the UK-based oil giant, is reportedly looking to divest 50% of its solar energy subsidiary, Lightsource bp, to a strategic partner. This move comes less than a year after BP took full ownership of the solar company in a $2.6 billion deal.
The decision reflects BP’s growing uncertainty over its solar energy investments amid broader challenges in the renewable energy sector. Sources familiar with the matter indicate that BP has set a June deadline for potential buyers to submit bids.
While BP had previously pushed to diversify its energy portfolio by increasing its stake in solar power, the company’s shift away from a full ownership stake in Lightsource bp suggests a reevaluation of its renewable energy strategy. Industry experts have noted that the global push for renewable energy faces significant hurdles, including high costs and volatile market conditions.
This move comes as BP and other oil majors continue to balance traditional fossil fuel operations with increasing pressure to invest in greener technologies, while also facing fluctuating returns from renewable energy markets.
Sources: BP, industry analysts.
Pic by Rorozoa on freepik: renewable energy.
