Bp is seeking to sell a 50% stake in its solar unit, Lightsource bp, to a strategic partner, aiming for cash and future investment commitments.
The move is part of bp’s broader strategy to address investor concerns, reduce costs and boost returns on investments, as reported by Reuters.
bp has faced pressure from investors such as Elliott Management, which holds a 5% stake in the company, due to its underperformance compared to peers such as Shell and Exxon Mobil.
Read more in Power Technology here.
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