BP agrees to take full ownership of Lightsource BP

BP, the UK’s oil giant, has agreed to acquire the 50.03 per cent stake it does not own in Lightsource BP, one of the world’s leading developers and operator of utility-scale solar and battery storage assets. The transaction is being valued at around $322 billion. The full ownership will en­able BP to further scale up Lightsource BP and create additional value. In the near future, BP may also consider unlocking further value by bringing a strategic partner into the business.