Petrobras to Buy 49.99% of Lightsource bp Brazil, Forming Renewables JV

Overview

• Petrobras' board approved acquiring a 49.99% stake in Lightsource bp’s Brazilian subsidiaries and disclosed the decision in a CVM filing.
• The partnership will operate as a joint venture with shared management focused on onshore renewables, with closing subject to regulatory approvals.
• Lightsource bp will add an advanced pipeline of roughly 1–1.5 GW in Brazil plus the operating Milagres solar plant in Ceará with 212 MWp of capacity.
• Petrobras did not reveal the price and described the transaction as not materially relevant to its financials.
• The move aligns with Petrobras’ five‑year plan to enter renewables through minority joint ventures as BP seeks partners for Lightsource while refocusing on oil and gas.