BP is in advanced negotiations to sell its solar energy unit, Lightsource.
A consortium including private equity firm Qualitas Energy and Wren House, the infrastructure arm of Kuwait’s sovereign wealth fund, is the prospective buyer.
Sources indicate a deal is expected soon, though the transaction remains unfinalized and could still collapse.
The divestment allows BP to offload Lightsource’s substantial debt load rather than securing a large cash payment.
This sale aligns with BP’s strategy to simplify operations and refocus on more profitable oil and gas assets.
The move marks a retreat from BP’s previous large-scale expansion into renewable energy to prioritize shareholder returns.