Who are the buyers in BP's potential sale of its solar business Lightsource, and what is their background?

The buyers are a consortium comprising Qualitas Energy, a green energy-focused private equity firm, and Wren House, the infrastructure investment arm of Kuwait's sovereign wealth fund, the Kuwait Investment Authority.

Why is BP selling its solar business Lightsource, and how does this fit into its broader strategic shift?

BP is selling Lightsource as part of a strategic refocusing on oil and gas to reduce debt, boost profit, and improve return on investment—following an unsuccessful earlier push into renewables under its previous CEO—and this sale aligns with its $20 billion divestment plan under new CEO Meg O'Neill, which also includes exiting minority stakes in over 10 venture companies and abandoning planned biofuels and hydrogen projects.

BP Nears Deal to Sell Solar Business to Kuwait-Backed Group

Jul 24, 2026

BP is in advanced talks to sell its solar arm Lightsource to a Kuwait-backed consortium, marking a strategic pivot back to oil and gas. This divestment aligns with CEO Meg O'Neill's $20 billion plan to reduce debt and boost returns.

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