BP’s EVP of gas and low carbon energy Dev Sanyal on Monday said that the company planned to grow its global renewable capacity to 50 GW by 2030 through both organic growth and acquisitions of early-stage development projects. The company had a 2.5 GW net of renewable capacity by the end of 2019, with around 20 GW in development phases. The development consists of solar (83%), wind (15%), and biopower (2%), mostly in the US (9 GW) and Europe (7 GW).
Projects which are under development include the 260 MW Impact solar farm in Texas and the 300 MW Bighorn solar farm in Colorado. BP owns 50% of Lightsource bp which is currently constructing a 250 MW solar farm in Zaragoza and 500 MW of bifacial solar capacity in Australia. It is also involved in the construction of 500 MW capacity in the Eversource JV.
BP recently entered a strategic partnership with Equinor in the offshore wind business in the US. It is also considering a further acquisition of 21 GW of early-stage projects.
