Petrobras and BP partner up for renewables in Brazil

RIO DE JANEIRO, December 17, 2025 – Petrobras has signed an agreement to acquire a 49.99% stake in Lightsource BP’s Brazilian subsidiaries to jointly develop onshore renewable energy projects, Petrobras announced on Tuesday.

Lightsource BP became a wholly owned BP subsidiary in October 2024. The company specialises in developing renewables assets and farming them down to partners by selling majority interest stakes. Globally, Lightsource BP has developed 11.9 GW of renewables generation and has a development pipeline of more than 55 GW.

The new joint venture will operate Lightsource BP’s 212-MW Milagres solar park in Ceará, active since 2023 and one of the largest solar installations in the state, and will co-develop and manage the company’s pipeline in Brazil, which includes projects in various stages of development for a total of 1-1.5 GW in generation capacity.

Lightsource BP’s assets are a source of low-carbon power for BP’s operations, as well as for power trading. With the move, Petrobras furthers its efforts to diversify its portfolio and expand its footprint in the renewables sector, in line with its 2026-2030 business plan.

Photo courtesy of Lightsource BP

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