BP is expanding further into solar power
BP boosts renewables pipeline with 9GW US solar deal
The $220mn acquisition gives BP solar projects across 12 US states, with largest portfolios in Texas and the Midwest
BP has agreed to buy a 9GW portfolio of solar power projects in the US from independent developer 7X Energy for $220mn. The deal, which is expected to close within 30 days, will increase BP’s total pipeline of renewable power capacity to 23GW and marks a “significant step” towards the company’s target of net developed renewables capacity of 20GW by 2025 and 50GW by 2030. 23GW – BP’s pipeline of renewables projects "With this purchase, we are continuing to put our strategy in action as we grow our renewables business in a deliberate and disciplined way,” says Dev Sanya, BP executive vice president of gas and low carbon energy. “It brings us 9GW of high-quality solar projects in market
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