Page 16 - Mx Energy News Today : Breaking News, Live Updates & Top Stories | Vimarsana

BP has reached an agreement to purchase 9GW of solar development projects in the US from developer 7X Energy. The acquisition represents a “significant step” towards BP’s target of growing its net developed renewable generating capacity to 20GW by 2025 and 50GW by 2030. The $220m deal will also grow BP’s renewables pipeline from 14GW to 23GW. The assets will be developed through BP’s 50:50 solar joint venture Lightsource BP. BP said it expects the acquisition to complete in 30 days. The projects are expected to meet BP’s low carbon investment criteria, generating returns of at lea...

“When you consider the 20-gigawatt target we’ve laid out until 2025, it’s a significant move forward,” Dev Sanyal, BP’s head of gas and low-carbon energy, said in an interview.

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Oil prices hit their highest level in more than two years as OPEC+ agreed to maintain its production cut plans while demand projections continue to improve. -    The average retail price for gasoline in the U.S. jumped above $3 per gallon last week, the highest price since 2014. -    Memorial Day travel is expected to be 50% higher than the same weekend in 2020. -    California saw the highest prices at over $4 per gallon, while Texas saw the lowest at $2.72.   Market Movers Pembina Pipeline (TSE: PPL) will acquire Inter Pipeline (TSE: IPL) in an $8.3 billion all-stock deal, creati...

Projects to be developed across 12 states by Lightsource BP will be capable of powering 1.7m homes