BP To Close Solar Power Production Plant In Sydney

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Dimanche 08 nov 2009 | 09:22:06

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BP To Close Solar Power Production Plant In Sydney

SYDNEY -(Dow Jones)- BP PLC (BP) said Tuesday it will shut down a solar power production plant in Sydney to focus on larger-scale plants in lower-cost manufacturing countries.
BP will stop producing solar photovoltaic power cells at the plant in Sydney Olympic Park at the end of March, with the closure resulting in about 200 job losses.
"The challenge for solar power is to reduce its costs to the level at which it competes on an equal footing with conventional electricity delivered through the power grid," BP Solar Chief Executive Reyad Fezzani said in a statement.
"To do this we need to expand at scale and reduce costs."
By Ross Kelly, Dow Jones Newswires; 61-2-8235-2957; ross.kelly@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: http://www.djnewsplus.com/al?rnd=CxbIWcpkX458Gn1gNjc7DQ%3D%3D. You can use this link on the day this article is published and the following day.
(END) Dow Jones Newswires
November 17, 2008 17:41 ET (22:41 GMT)