Bloomberg News

BP to Shut Down Solar-Power Unit, Exit Business, Spokesman Says

December 20, 2011

Dec. 20 (Bloomberg) -- BP Plc, Europe’s second-largest oil company, decided to close down its solar power unit, BP Solar, due to competitive pressures, a spokesman said.

The company, which announced in July it would stop manufacturing solar products to focus on large projects, informed its employees last week and will wind down as soon as possible, Robert Wine, a spokesman for the parent company, said by telephone today.

BP plans to sell its stakes in the more than 158 megawatts in projects its London-based BP Solar unit has developed in several countries, he said.

To contact the editor responsible for this story: Todd White at twhite2@bloomberg.net


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