Brazil's based Petrobras, an oil company, and Lightsource bp has signed an agreement to form a joint venture in Brazil’s onshore renewable energy segment. Petrobras agreed to acquire 49.99 % of Lightsource bp’s subsidiaries in Brazil. The transaction remained subject to regulatory approvals. The deal marked Petrobras’ entry into utility-scale solar generation. It aligned with the company’s plans to diversify operations. Petrobras has already been developing solar projects at its refining units. The company is planning to install 56 MW by 2027. About 10 MW was already operating at the Regap refinery. Lightsource bp contributed a solar development pipeline of 1 to 1.5 GW. The pipeline included projects in advanced and early development stages. The joint venture also included the 212 MW Milagres photovoltaic plant in Ceará. The plant had been operating since 2023.