BP announces a five-fold expansion of solar production in Spain

Acquisition of Agere Systems' plant in Madrid offers platform for rapid growth

05-Jul-2001

BP today announced that it has agreed in principle to acquire Agere Systems' semiconductor plant in Madrid as a base for a five-fold expansion of its solar photovoltaic cell manufacturing in Spain. This expansion builds on the company's existing manufacturing and marketing operations in Madrid. The deal is expected to be complete within the next few months.

The new facility will be one of the largest solar plants in the world, producing 60 megawatts a year of high-efficiency crystalline silicon Saturn solar cells and having the potential to expand further. This product will be sold globally, but will especially help to meet the rapidly-growing demand for solar power in Europe. The plant will begin production by the end of 2002 and will use state-of-the-art techniques to improve productivity, yield, cell efficiency and product performance.

BP will invest over $100 million in the project, which is situated to the north of Madrid, around 10 miles from BP Solar's current Spanish manufacturing facility. Around 600 new jobs will be created when the plant is fully operational.

Commenting on the deal, BP Solar chief executive Harry Shimp said: 'Spain and the rest of Europe represent growing markets for solar power. This project in Madrid will enable us to continue to play a leading role in meeting that demand.'

BP Spain President Luis Javier Navarro added: 'Solar power is increasingly helping to meet the energy needs of the Spanish people, while protecting our environment. BP is pleased to be part of this positive contribution to the lives of our fellow citizens.'

https://www.chemeurope.com/en/news/3779/bp-announces-a-five-fold-expansion-of-solar-production-in-spain.html