A Petrobras and Lightsource bp confirmed the market expectations They formalized the signing of an agreement establishing a strategic partnership focused on the development of onshore renewable energy in Brazil.
Under the agreement, the PetroBrazilian company Bras will acquire 49,99% of Lightsource bp's subsidiaries in Brazil. The partnership will be structured as a joint venture, with shared management between the two companies.
In a note, the PetroBras highlighted the strategic nature of the operation. "Through this initiative, the Petro"Bras is taking a significant and strategic step by entering the solar power generation segment, expanding its presence in the renewable energy market in Brazil, as well as enabling the creation of a platform that can add new renewable energy businesses, such as energy storage," the oil company reported.
The Brazilian state-owned company added that it intends to install 56 MW of capacity by 2027, of which 10 MW are already in operation. "Today we are taking an important step in the performance of..." Petro"We are leading Brazil in the solar energy segment," stated the company's president, Magda Chambriard.
On Lightsource bp's side, the company reported that it will contribute to the joint venture with a pipeline of between 1 and 1,5 GW in a more advanced stage of development, in addition to other less mature projects in the country.
The portfolio also includes the Milagres photovoltaic solar power plant, located in Abaiara (CE), which has been in operation since 2023, with 212 MWp of installed capacity, being one of the largest in the state.
"With our strong local expertise, built over almost seven years of activity in Brazil across all phases of project development, construction, and operation, we will continue to generate value for the company, our clients, and stakeholders. We are excited about this partnership with..." Petro"Brazilians," said Joaquin Oliveira, CEO of Lightsource bp.
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