bp reportedly considers buying control of solar power JV Lightsource bp

bp currently retains a 43% stake in the company

Energy giant bp is reportedly considering the acquisition of a controlling stake in Lightsource bp (LSBP), a joint venture focused on solar power.

According to two sources, cited by Reuters, the current portfolio of LSBP could be valued at approximately $2 billion (£1.6bn) in a potential deal.

However, the final price tag may be considerably higher, depending on the assessment of its long-term business.

The move would be in line with bp’s goal of becoming a major player in renewable energy – bp currently holds a 43% stake in the company.

LSBP develops and operates solar projects around the world.

The potential acquisition would allow bp to expand its portfolio of clean energy assets and boost its position in the growing solar market.

ELN has contacted bp and Lightsource bp for comment – bp declined to comment.

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