Petrobras announces signing of strategic partnership in the renewable energy segment in Brazil

Petrobras announces that it has entered into an agreement to form a strategic partnership in the onshore renewable energy segment through the acquisition of 49.99% of Lightsource bp's subsidiaries in Brazil. The partnership will be structured as a joint venture, with shared management between Petrobras and Lightsource BP.

This joint venture aims to develop profitable renewable energy projects and increase the presence of Petrobras and Lightsource bp among the main players in the Brazilian renewable energy sector.

Lightsource bp, a bp group company, will contribute to the joint venture with its pipeline, which includes 1-1.5 GW of projects in more advanced stages of development, as well as other less mature projects in Brazil, together with the Milagres solar park in Abaiara, in Ceará, which has been in operation since 2023 with 212 MWp (megawatt) of installed capacity – one of the largest in the state.

Through this initiative, Petrobras takes a significant and strategic step into the solar power generation segment, expanding its presence in the renewable energy market in Brazil. Petrobras’ entry into this segment reinforces the company’s commitment to diversifying its portfolio and building a more sustainable future, in line with its Business Plan 2026-2030.

The closing of the deal is subject to the applicable approvals, including those from the competent regulatory bodies.

It is important to note that, at this stage, the transaction value is not materially significant for Petrobras.

About Lightsource bp

Lightsource bp is a leader in the development, construction and operation of large-scale onshore renewable energy and energy storage projects. Operating in three global regions, with 11.9 GW developed and a global development pipeline exceeding 55 GW, the company is focused on advancing the energy transition, creating value for its people, partners, and the planet. Leveraging its broad expertise, Lightsource bp delivers integrated renewable energy solutions with security throughout the development chain, from initial site selection, financing, and licensing, to engineering and construction management, to operations. The company offers flexible, hybrid, and demand-driven renewable energy and energy storage assets. Lightsource bp is a bp company.