BP buys 9-GW US solar project pipeline from 7X Energy for $220 million

摘要

Oil and gas company BP has bought a 9-GW pipeline of US solar power projects from developer 7X Energy for $220 million, BP said June 1. The deal boosts BP’s global renewables pipeline from 14 GW to 23 GW. The assets will be developed by BP’s 50:50 solar joint venture Lightsource BP. The acquisition represents a significant step towards BP’s target of growing its net developed renewable generating capacity to 20 GW by 2025 and to 50 GW by 2030, BP said. The projects are spread across 12 US states, with the largest portfolios in Texas’ ERCOT network area and the Midwest’s PJM network area. "It's the largest deal we've done in the renewable sector," said Dev Sanyal, BP executive vice president of gas and low carbon energy, in a phone interview. "We go where the opportunities are. It's complementary with Lightsource."