Media reports have said that oil supermajor BP aims to sell 50% of its solar unit Lightsource BP this summer.
BP will divest the stake to a strategic partner for cash and a commitment of future investments, with bids due in June, Reuters said citing a sales document dated March 2025.
According to the document, which calls the divestment Project Scala, BP is looking for a group with “established leaders with extensive experience” in the renewables industry, according to the document.
In addition, the document stated that both companies would have joint control of the assets.
With non-binding offers due in June, BP will shortlist bidders in July.
BP bought into the utility-scale solar and battery storage developer in 2017 before acquiring the remaining 50.03% interest in the group in October last year for around £400m.
Lightsource BP came with 5.7GW of operational assets along with a 62GW development pipeline and operations spanning 19 global markets.
At the time, BP said it would look to bring in a strategic partner to join the business.
BP has since confirmed it intends to bring in a partner for Lightsource BP but did not confirm the timeframe.
Since making the purchase, BP has rolled back some of its renewable energy ambitions as it refocuses the company on oil and gas investments over pressure from shareholders to raise the company’s profitability.
Part of its divestment programme could see it sell its historic lubricants business Castrol, which could fetch the firm up to $6-8 billion (£4.7-6.3bn), analysts have estimated.
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