BP to Sell Lightsource Solar Business to Kuwait-backed Consortium

BP is in advanced talks to sell its solar subsidiary Lightsource to a consortium that includes the Kuwait Investment Authority, private‑equity firm Qualitas Energy and the infrastructure arm Wren House. The deal, valued at around $20 billion of asset disposals, is part of BP’s broader plan to simplify its portfolio, cut debt and refocus on oil and gas after a costly push into renewables. Lightsource, which operates over 14 GW of installed capacity and another 7.5 GW under construction, will move from direct ownership by a major oil major to a specialised investment vehicle backed by sovereign and private capital. BP, under new chief executive Meg O’Neill, has declined comment on the transaction, while the move signals a wider trend of large oil companies reassessing their role in the green transition.