Energy & Science

BP’s Clean Energy Push Starts With Five-Year Dash on Solar, Wind

Eightfold increase in renewables developments planned by 2025
Oil giant says traders are the key to sustaining high returns

Solar panels which form part of a Lightsource BP smart home solution sit on a flat roof at a residential property in Dorking, U.K., on Friday, May 3, 2019. Companies like Lightsource, in which British oil major BP Plc holds a stake, are trialing smart systems in people’s homes that will that will do everything from generating solar power, storing it and managing consumption.Photographer: Chris Ratcliffe/Bloomberg

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By Laura Hurst and Will Mathis

September 15, 2020 at 3:26 PM UTC

Updated on

September 15, 2020 at 4:32 PM UTC

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BP Plc’s journey from oil major to clean energy giant will start with a five-year sprint to dramatically boost wind and solar power.

By 2025, the company intends to have approved more than 20 gigawatts of renewable energy projects, an eightfold increase from 2019, Dev Sanyal, BP’s executive vice president of gas and low-carbon energy, said in a online presentation on Tuesday.