Petrobras and Lightsource bp have formalized an agreement to create a joint venture that will operate in the onshore renewable energy segment in Brazil. As announced, Brazil’s state-owned oil company will acquire 49.99% of the capital of Lightsource bp’s Brazilian subsidiaries, in a transaction that still requires regulatory approval.
What does this mean for both companies?
Until now, Petrobras’ participation in renewables was limited (small projects in its own refineries), so this alliance allows them to enter fully into the solar generation business on a commercial scale, having immediate access to a giant portfolio of developed projects, accelerating their entry into the market.
On the other hand, Lightsource bp gains a local partner with great influence to accelerate its growth in the Brazilian market. In addition, the partnership gives the company greater security and expansion capacity by combining its technical expertise with the strength of Petrobras.
The impact on the Brazilian energy market
This alliance reinforces the trend of diversification of the country’s energy matrix and shows how traditional oil majors are investing massively in clean energy, while at the same time it will boost large-scale solar energy generation in the country, contributing to the decarbonization of the country. decarbonization.
Source and photo: Petrobras