British Petroleum will provide services on the Chinese renewable energy market

The British oil and gas concern British Petroleum (BP) has signed a MoU with JinkoPower Technology, a subsidiary of JinkoSolar, the largest producer of solar modules in the world. It is reported by Renen.

In accordance with the terms of the agreement, the parties will cooperate in the provision of integrated energy solutions and services to commercial and industrial consumers in China, including digital solutions and energy supplies within Energy as a Service.

A memorandum of understanding was signed on July 6 in Shanghai by Simon Young, President of BP China, and Xian Li, Chairman of JinkoPower and Jinko Solar.

“Our partnership with JinkoPower aims to combine BP’s best practices in energy management and digital platforms with JinkoPower’s world-class solar technology to provide customers with integrated low-carbon Energy as a Service,” said a spokesman of BP.

British Petroleum also owns a 50% stake in the British company Lightsource BP, a major developer of solar projects in various countries, with a portfolio of several gigawatts.

In February, the oil and gas concern BP announced that it intends to become “carbon-neutral,” achieving a zero net carbon emission balance by 2050 “or earlier.” New cooperation in solar energy is the next step in this direction.

China is the largest solar energy market, which is largely self-sufficient. China produces most of the solar panels and other components of photovoltaic stations on its territory. It is almost impossible for foreign players to enter it on their own, but cooperation allows this to be done.

Previously, BP has already invested in the Chinese technology of "new energy". The venture division of the oil and gas concern has acquired a stake in PowerShare, a leading Chinese provider of hardware and software solutions for charging electric vehicles.

Earlier it was reported that British Petroleum is selling its global petrochemical business for $5 billion.

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