By Petrobras

December 16, 2025

This is a machine translation of the press release originally published in Portuguese.

Petróleo Brasileiro S.A. – Petrobras announces that it has entered into an agreement to establish 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 that includes between 1 and 1.5 GW in a more advanced stage of development, in addition to other less mature projects in Brazil, as well as the Milagres photovoltaic solar plant in Abaiara, Ceará, which has been in operation since 2023 with 212 MWp of installed capacity – one of the largest in the state.

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

The closing of the deal (closing) is subject to the relevant approvals, including those of the competent regulatory authorities. 

It is worth noting that, at the current stage, the value of the transaction is not materially relevant to Petrobras.

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