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Alternative energy

Renewables are the fastest-growing energy source, contributing half of the growth in global energy, with its share in primary energy increasing from 4% in 2019 to around 15% by 2040

 

in bp, we have an established and growing alternative energy business, with a significant portfolio across renewable fuels, power and products. and we are developing new business models in areas such as low carbon power and digital energy.

Low carbon ambitions

We have set targets and aims to reduce emissions in our operations, improve our products to help customers reduce their emissions and create low carbon businesses.

Our Alternative Energy portfolio

We formed BP Bunge Bioenergia, a joint venture that combines BP and Bunge's Brazilian bioenergy and sugarcane ethanol businesses. The venture operates 11 biofuels sites and has a production capacity of 32 million metric tonnes of sugarcane a year (see Going big in biofuels). 
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BP Bunge Bioenergia produces renewable energy from its biofuels manufacturing sites. The joint venture is capable of exporting 1,200GW hours of biopower to the national grid. 
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We operate nine sites in six US states and hold interest in another facility in Hawaii. Together they have a net generating capacity of 926MW.
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We increased our stake in Lightsource BP to become a 50-50 joint venture. Lightsource BP aims to develop 10GW of solar projects by 2023. 
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Butamax our 50:50 joint venture with DuPont produces bio-isobutanol from corn. The energy-rich bio product has a variety of uses, such as paints and lubricants. 
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We are developing a number of digital platforms to connect consumers with local, low carbon electricity to power their homes and transport, and are exploring opportunities to create value at the interplay between gas and renewable energy. 
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Investing in energy management

to help grow our digital energy portfolio, we have invested in grid edge, an energy management company. its technology helps customers predict, control and optimize a building’s energy profile.

 

虾聊红包扫雷grid edge can help customers lower carbon emissions by 10-15% on average.

 

虾聊红包扫雷the cloud-based software can anticipate a building’s energy demand using data such as weather forecasts and expected occupancy.

  • This allows building managers to adapt energy use and take advantage of periods of high renewable power generation.
  • Customers can also use their building’s flexibility in energy demand and generation as a giant battery.

 

"this investment is in support of our strategy to create an ecosystem of distinctive, digitally enabled, low carbon businesses for commercial and industrial customers.

This investment is in support of our strategy to create an ecosystem of distinctive, digitally enabled, low carbon businesses for commercial and industrial customers.Nick Wayth,chief development officer, BP Alternative Energy

Going big in biofuels

bp has formed a 50:50 joint venture in brazil with leading agri-commodities company bunge limited. the deal expands our existing biofuels business by more than 50%.

 

虾聊红包扫雷bp bunge bioenergia is now the second-largest operator by effective crushing capacity in the country’s bioethanol market.

 

虾聊红包扫雷brazil is the world’s second-largest market for ethanol as a transportation fuel, with around 75% of the country’s vehicles able to run on it.

 

demand for ethanol is growing rapidly in the country. in 2019 demand increased 10% versus 2018 and is set to increase up to 55% by 2030.

"With a shared commitment to safety and sustainability, bringing together our assets and expertise allows us to improve performance, develop options for growth and generate real value.Dev Sanyal,chief executive of BP Alternative Energy
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