1st Jun 2021 22:15
BP PLC - London-based oil and gas company - Agrees to purchase 9 gigawatts of solar development projects in the US from solar developer 7X Energy. The deal will grow BP's renewables pipeline from 14 gigawatts to 23 gigawatts. The assets will be developed through BP's 50-50 solar joint venture Lightsource bp, it says. The projects are spread across 12 US states, with the largest portfolios in Texas and the Midwest.
BP will pay 7X Energy USD220 million for the projects and 1 gigawatt of "safe harbour" equipment and expects the acquisition to complete in 30 days.
Current stock price: 314.75 pence, up 2.8% on Tuesday
Year-to-date change: up 24%
By Evelina Grecenko; [email protected]
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