bp snaps up 9GW of US solar

Posted at June 1, 2021 » By : » Categories : News » Comments Off on bp snaps up 9GW of US solar

bp has purchased 9GW of solar projects in the US from the developer 7X Energy.

The projects, which will be developed by the oil giant’s subsidiary Lightsource bp, will be spread across 12 states with Texas and the Midwest holding the largest share in this portfolio.

Assets with a combined capacity of 2.2GW are expected to reach the final investment decision by 2025 with the remaining progressing by 2030.

Once commissioned, the fleet is forecast to have the capacity to generate enough clean energy to power around 1.7 million homes.

Dave Lawler, bp America Chairman and President, said: “bp’s new high-quality solar portfolio will provide low carbon energy, create US jobs and deliver the competitive returns our shareholders expect.

“In line with our strategy, we will aim to integrate these projects with our existing onshore and offshore wind, natural gas and trading and shipping businesses to give customers what they want reliable, affordable and clean energy.”

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