BP gone solar27 Jan 2018 16:47
Nick Boyle, Group CEO and founder of Lightsource, said: “We founded Lightsource to lead the solar revolution and chose to partner with BP because, like us, their ambition is to build and grow this company for the long-term. Not only does this partnership make strategic sense, but our combined forces will be part of accelerating the low-carbon transition. Solar power is the fastest growing source of new energy and we are excited to be at the forefront of this development.”
Bob Dudley, BP group chief executive added: “BP has been committed to advancing lower-carbon energy for over 20 years and we’re excited to be coming back to solar, but in a new and very different way. While our history in the solar industry was centred on manufacturing panels, Lightsource BP will instead grow value through developing and managing major solar projects around the world. I am confident that the combination of Lightsource’s expertise and experience with BP’s relationships and resources will propel this innovative business to even more rapid growth.”
Global installed solar generating capacity more than tripled in the past four years and grew by over 30% in 2016 alone, according to BP’s Statistical Review of World Energy. BP’s Energy Outlook analysis sees solar as likely to generate around a third of the world’s total renewable power and up to 10% of total global power by 2035.