BP to quadruple capacity of Xi'an solar energy facility
By Wang Ying (China Daily)
Updated: 2006-10-19 08:58
BP Plc, the world's second-biggest oil company, plans to invest "many million
dollars" to quadruple the current capacity of its solar energy joint venture in
Xi'an, the capital of Northwest China's Shaanxi Province.
In a drive to
cash in on the booming renewable energy market in China, BP wants to expand the
capacity of its Xi'an-based BP Sunoasis Co Ltd fourfold to 100 MW (megawatts) by
2010, said Mark Twidell, regional director of BP Solar's Australian and Asian
business.
"We would like to take a fair share in China's expanding (solar
energy) market," Twidell told China Daily yesterday in Xi'an.
In terms of
investment in the new project, Twidell said "many million dollars" could be
shelled out for BP Sunoasis, which now has a capacity of 25 MW and is
minority-owned by BP.
China's surging energy demand and environmental
concerns have prompted the Chinese Government to step up efforts to boost the
use of alternative energy sources such as solar, wind and biomass, and industry
analysts have predicted huge potential for these clean energies to fuel
electricity generation.
According to the BP official, China's solar-based
power generation market will reach 200 MW, from only 20 MW last year.
BP
Sunoasis' increased capacity of 100 MW by 2010 will target both the Chinese
market and other countries, Twidell added.
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