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BP to exit solar business

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22 December 2011
The Financial Times reports an internal email of Mike Petrucci, chief executive of BP Solar to staff, in which he had informed about the closing of BP Solar after 40 years because of profitability reduction. The oil giant has had already started to scale back its operations in solar in recent two years diminishштп its industrial capacities in the USA, Spain and Australia and reducing the staff by 1650 people. Together with it the development in the field of wind energy and biofuels will be continued within the framework of BP Alternative Energy project. Prior to 2015 BP is to invest, as planned in 2005, US$8 billion in these studies.
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