Solar energy
Delivering renewable power in the US
Solar plays an important role in bp’s renewables and power transition growth engine, and we’re advancing solar energy projects across the US.
Lower carbon energy
Solar energy is a part of bp’s five transition growth engines. We’re able to combine our world-class solar project development experience with our trading and customer expertise to deliver renewable power to our customers.
A snapshot of bp’s US investment
- Lightsource bp operates 22 US solar projects in AL, AR, CA, CO, IN, KS, LA, NM, PA, TX
- 7 new projects are under construction in TX, LA, AR, IN
- Capable of generating enough renewable electricity to power more than 550,000 homes
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Delivering renewable solar energy in the US
Lightsource bp
In November 2023, we agreed to acquire the remaining 50.03% stake in our solar joint venture Lightsource bp.
Since first joining forces in 2017, Lightsource bp has become one of the world’s leading developers and operators of utility-scale solar and battery storage assets. Full ownership will give us access to world-class onshore renewable development capability.
It’s a win-win: We plan to leverage Lightsource bp to ensure access to the most competitive renewable power for our transition growth engines – in hydrogen, EV charging and biofuels, as well as in power trading.
In addition, we intend to further scale up Lightsource bp and create additional value by applying our complementary capabilities and strengths – including in financing and trading – to the business.
The deal is expected to be complete by the end of 2024, subject to regulatory approval.
bp solar
In addition to the Lightsource bp joint venture projects, bp is advancing solar energy projects across the US.
bp’s Arche Solar project in Fulton County, Ohio, began delivering power to its customer in the first quarter of 2024. bp secured a power purchase agreement with Meta for the 134 megawatt (MW) solar farm, which has potential to generate enough low carbon energy annually to power the equivalent of more than 20,000 US homes. Arche is expected to provide more than $30 million in revenue to benefit local public services over the life of the project.
In September 2023, construction began on bp’s 187MW Peacock Solar project in San Patricio County, Texas. Expected to come online in the fourth quarter of 2024, Peacock has already generated over 300 jobs during peak construction and is projected to provide more than $25 million in tax revenue over the first 25 years of the project’s life.
Both projects are clear examples of how bp can provide lower carbon energy to industrial customers.