Petrobras acquires stake in Brazil’s Lightsource bp for renewable energy joint venture

THE Petrobras confirmed this Tuesday 16th having signed an agreement to establish a strategic partnership in the renewable energythrough the acquisition of 49.99% of Lightsource bp’s subsidiaries in Brazil.

The partnership will be structured as a joint venturewith shared management between the two companies. The amount of the operation has not been communicated and “is not materially relevant” for Petrobras, says the public company in a press release filed with Security and Exchange Commission (CVM).

According to the company, the joint venture aims to develop profitable renewable energy projects and increase the presence of Petrobras and Lightsource bp among the main players in this niche.

Completion of the transaction is subject to relevant approvals, including those from regulatory bodies.

Lightsource bp, a bp group company, will contribute to the joint venture with its pipeline which includes between 1 GW and 1.5 GW at a more advanced stage of development, in addition to other less mature projects in Brazil, as well as the photovoltaic solar power plant de Milagres, in Abaiara, Ceará, in operation since 2023, with 212 MWp of installed capacity, one of the largest in the state. The information was anticipated by Stage/Broadcast.

Thanks to this initiative, the public company takes a “significant and strategic” step by entering the solar energy production segment. “The entry of Petrobras reinforces the company’s commitment to diversify its portfolio and build a more sustainable future, in line with the 2026-2030 business plan,” the company says.