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Under the agreement, BP will acquire the remaining 50.03% stake in Lightsource BP from the company's founders, management, and staff at a base equity value of 254 million pounds (USD 322 million).
Acquisition of solar developer designed to help meet demand for clean power from other parts of BP’s business, according to oil and gas giant
BP plc (BP, BP.L) on Thursday agreed to acquire the remaining 50.03% interest it does not already own in Lightsource bp, one of the world's leading developers and operator of utility-scale solar and battery storage assets.
British oil giant BP has agreed to acquire the 50.03% stake it doesn't already own in Lightsource BP, a solar power developer and a co-sponsor ......
BP has bought up full control of solar power developer Lightsource BP in a move demonstrating the former’s ambitions outside of fossil fuels.