TozziniFreire and Machado Meyer lead strategic alliance between Petrobras and Lightsource bp  

Brazilian oil company Petrobras finalized the acquisition of 49.99% of Lightsource bp subsidiaries in Brazil, an operation aimed at developing onshore renewable energy projects. The transaction will be structured as a joint venture with shared management.

TozziniFreire Advogados represented the buyer, Petrobras, with a team led by partners Leonardo Miranda, Luiz Filipe Aranha, and Ligia Pereira Schlittler, alongside counsel Fabiana Pasmanik and associates Thiago Rodrigues da Silva and Ana Carolina Porcionato. The firm highlighted its role in due diligence and negotiation to mitigate risks.

On its part, Machado Meyer assisted Lightsource bp under the leadership of partner Virgilio Lopes Enei and associates Marcella Duffles Amarante and Julia Souza Torres. Through this alliance, Lightsource bp will contribute a pipeline of between 1 and 1.5 GW in advanced stages, including the Milagres solar plant in Ceará.

For Petrobras, this move is fundamental to its 2026-2030 Business Plan for diversification and carbon neutrality. The agreement was announced by the President of Petrobras, Magda Chambriard, and the CEO of Lightsource bp, Joaquin Oliveira. The initiative allows Petrobras to enter solar generation and add business lines such as energy storage, reinforcing projects at refineries like Regap and Replan.

The closing of the deal is subject to regulatory approvals. Lightsource bp, a bp group company, is a global leader with a development pipeline exceeding 55 GW and provides integrated solutions throughout the renewable energy chain.