Oil major considering renewables divestment
The owners of global renewables developer Lightsource bp are considering a sale of the business, according to three sources familiar with the matter.
The company, backed by its UK-based namesake, in the past year restarted a sale process for a 2.2 GW solar portfolio in the USA.
More recently, the company has been in discussions with financial advisors about a potential sale of the whole company, the sources told Infralogic.
Speaking about the market in general, one investment banker noted other oil-backed renewables processes in the market and large investments made by oil majors in their traditional, core businesses.
“These oil companies are getting back to oil,” the source said.
Lightsource bp did not respond to a request for comment. bp declined to comment.
In November bp announced that it had acquired from the founders, management, and staff the 50.3% interest in Lighsource bp that it did not own, taking full ownership of the company.