North Coast Solar Stocks

April 23, 2009

BP to provide solar power systems for Wal-Mart stores

Filed under: none — Tags: , , , , — Jason @ 6:05 pm

4/23/2009 6:05:55 PM

CALIFORNIA: BP Solar, a part of BP Alternative Energy, has been selected to provide photovoltaic solar power systems for Wal-Mart stores in California.

Under a power purchase agreement (PPA) negotiated for the projects, BP Solar will finance, install and maintain the systems and Wal-Mart will have immediate access to clean electricity with no up front capital cost to the retailer.

BP Solar has said it will initially focus on building 10 to 20 rooftop systems at Wal-Mart locations in California, and will work with Wal-Mart to evaluate the potential for additional projects. BP Solar expects to complete the first set of projects, totaling up to 10MW of installed solar power, within about 18 months.

Under the PPA, Wal-Mart is purchasing all of the energy produced by the solar power systems and BP Solar will operate and maintain the systems.

Reyad Fezzani, CEO of BP Solar, said: “BP is pleased to expand our energy supply relationship with Wal-Mart through this series of new projects. BP’s solar power systems have been shown to reliably perform for more than 25 years and this reliability, when combined with no up front capital cost, will help drive further development of large-scale solar projects in California and elsewhere.”

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