18 Dec '17, 5pm

#Energy giant BP re-enters #solar segment with acquisition

#Energy giant BP re-enters #solar segment with acquisition

Oil and gas giant BP is getting back into the solar game through an acquisition agreement with Lightsource, one of Europe’s largest developers and operators of utility-scale solar projects. Although it was once a major player in module manufacturing, BP exited the solar industry in 2011 amid global market challenges. On Friday, BP announced that it has agreed to form a strategic partnership and acquire a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. According to BP, the great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP, and BP will have two seats on the board of directors. Bob Dudley, BP group chief executive, says, “BP has been committed to advancing lower-carbon energy for over 20 years, and we’re excited to be coming back to solar – but in a ...

Full article: https://solarindustrymag.com/energy-giant-bp-re-enters-so...

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BP Putting $200 Million Into Solar Energy Firm Lightsource

BP Putting $200 Million Into Solar Energy Firm ...

cleantechnica.com 18 Dec '17, 1pm

“BP, which will have 2 seats on Lightsource board, expects the deal to be completed in early 2018. Lightsource were advise...

BP Investing $200 Million In Solar Company Ligh...

renewableenergymagazine.com 19 Dec '17, 2pm

The majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource...

BP Investing $200 Million In Solar Company Ligh...

renewableenergymagazine.com 19 Dec '17, 2pm

The majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource...

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BP returns to solar with $200m Lightsource investment

BP returns to solar with $200m Lightsource inve...

businessgreen.com 15 Dec '17, 11am

Oil giant BP has reignited its interest in the solar market with the announcement today of a $200m investment in UK develo...