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BP explores buying solar energy to power operations in the US

The UK-based oil major is the latest in a series of peers to show interest in powering fossil operations with renewable energy – for financial reasons, underscoring how competitive solar and wind have become even the amid the record-low break-even costs for Permian Basin WTI crude.

Photo: Mainstream Renewable Power

BP Plc may become the next oil giant to power operations with clean energy.

The London-based company is in talks with a solar developer it partially owns, Lightsource BP, to buy power in the US, according to executives at the renewable company. A contract may be signed within six months, Lightsource BP Chief Commercial Officer Katherine Ryzhaya said.

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