June 2, 2021 Read More →

BP announces deal to purchase 9GW of U.S. solar development projects

Renew Economy:

British oil and gas supermajor BP says it has struck a deal to purchase 9GW of solar development projects in the United States from independent US solar developer 7X Energy – described as the biggest green energy deal to date.

BP will pay $US220 million for the pipeline of projects, which will grow BP’s pipeline of renewable energy projects from 14GW to 23GW, and will be developed through BP’s 50-50 solar joint venture Lightsource BP.

“With this purchase, we are continuing to put our strategy in action as we grow our renewables business in a deliberate and disciplined way,” said Dev Sanyal, BP executive vice president of gas and low carbon energy.

“It brings us 9GW of high-quality solar projects in markets where we can create integrated renewable energy offers through our trading and customer franchises. This is a significant step as we continue to deliver on our net zero ambition.”

The 9GW pipeline of development projects is spread across 12 US states, with the largest portfolio in Texas’ ERCOT grid area and the Midwest’s PJM grid area.

[Joshua Hill]

More: BP acquires 9GW solar pipeline in US in biggest green power deal

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