BP drops wind farm and renewable plans in Britain
The law firm Eversheds sent us this email: “It is reported today that BP is to drop its wind farm and other renewable schemes in Britain to concentrate its spending programme on the US. Michelle Thomas, head of the Clean Energy and Sustainability team at international law firm Eversheds, comments: “The news that BP has dropped all plans to build wind farms and other renewables schemes in Britain has been suspected for a while. This ties in with shareholder pressure generally in oil and gas to focus on core business or where there are clear financial synergies. The departure of BP and similar players will be seen as having a negative impact particularly for the Round 3 offshore wind programme where their offshore expertise and balance sheet strength are key assets.” BP and Shell have each dropped the cleaner alternatives to oil to focus on hydrocarbon fuel – biofuel and making the most out of the oil they’ve controlled for a long time. Image source: greenbang.com. > Continue.
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