• Most Popular
  • Most Shared

BP drops plans for UK wind farms--paper

Thu Nov 6, 2008 8:57pm EST

Stocks

   

LONDON, Nov 7 (Reuters) - Oil major BP Plc (BP.L) has dropped plans to build wind farms and other renewable energy projects in Britain and will focus renewables spending on the United States, the Guardian newspaper said on Friday.

China

The United States is more attractive due to government incentives for clean energy projects there, the newspaper said.

"The best place to get a strong rate of return for wind is the U.S.," the Guardian quoted a BP spokesman as saying.

The group has shelved ideas of building a UK onshore wind farm at the Isle of Grain in Kent and will not bid for any offshore licences, the newspaper added.

China's Goldwind Science & Technology Co (002202.SZ) said on Thursday BP Alternative Energy has pulled out of a partnership in a wind farm project.

Goldwind, China's largest maker of wind turbines, said BP had decided to suspend its wind power business in Asia, according to a statement posted on the Shenzhen Stock Exchange. [ID:nSHA27353] (Reporting by Eric Onstad; Editing by Gary Hill)



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article