BP in advanced talks to sell solar arm Lighthouse to Kuwait-backed consortium
BP is in advanced negotiations to sell its solar power business, Lighthouse (formerly Lightsource), to a consortium backed by Kuwait's sovereign wealth fund. The consortium includes private equity firm Qualitas Energy and Wren House, the infrastructure arm of the Kuwait Investment Authority. They are reportedly the highest bidders, and a deal is expected soon, though it could still fall through. The sale is part of BP's broader strategic retreat from its earlier net zero ambitions. In February 2025, BP announced it would roll back green targets set in 2020, which had aimed to reduce oil and gas output by 40% and achieve net zero by 2050. The company is refocusing on oil and gas to reduce debt and boost profits after its renewable energy plans underperformed. Lighthouse operates 4 GW of renewable capacity across 15 countries including the UK, US, Australia, and New Zealand.
Editorial responsibility
- No named human review is recorded for this page.
- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page itself is projected from evidence records.
- Current automated evidence projection