Lightsource of BP

2017

The BP Lightsource company will soon start implementation of new projects in the USA, India, Europe and in the Middle East. Also she will employ 8000 people in the field of renewable power, including on wind farms in the USA and on biofuel production in Brazil, writes at the end of 2017^[1].

BP paid $200 million to receive 43% of shares of the manufacturing company of solar panels, largest in Europe. The firm will be renamed into Lightsource of BP, and representatives of BP will receive two seats in board. Thus, BP returned again to business which left 6 years ago, having considered it unprofitable. Investments into the London company Lightsource became a turning point for British Petroleum Company which after rebranding in 2000 began to be called Beyond Petroleum, but ten years later winded up all the initiatives in the field of renewable power. "We are happy to work with solar energy again, but already at essentially new level" — the CEO of BP Robert Dudley said.

Unknown rates of development of the industry which passed from creation of solar panels to construction of solar power plants of high power became the reason of sharp shift. "In the next 20 years solar energy will make 10% of global energy consumption, and will grow approximately for 15% annually" — the director of renewable power of BP Dev Sanyal told.

According to the founder of Lightsource Nick Boyle, many companies which are engaged in development of solar power do not depend on the state support and grants any more. Now they can compete as equals with other players in the market. Here and there they even manage to set lower price for electricity, than competitors on behalf of gas or coal power stations offer. Lightsource of BP will soon start implementation of new projects in the USA, India, Europe and in the Middle East.

In spite of the fact that $200 million — not the largest sum from $15-17 billion which BP spent this year Sanyal considers it serious investment. Now the company will employ 8000 people in the field of renewable power, including on wind farms in the USA and on biofuel production in Brazil.

See Also

• Solar power in Russia and the world
• Alternative power engineering (Russia and world)
• Wind power and wind power units (Russia and world)
• Nuclear power. Facts and myths
• Smart Grid (Smart Networks)

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