BP bought solar developer Lightsource because of the strong “fundamentals” in the market. There is, however, a more cautious approach with Lightsource keen to avoid the mistakes of one formerly prolific solar developers in particular. BP paid US$200 million for 43% of the India solar developer – rebranded BP Solar – the energy major's first PV investment since it closed BP Solar in 2011 . “Effectively what we are seeing are fundamentals that are really important", said BP Alternative Energy chief executive Dev Sanyal . “Growth around 43% per annum, we've seen trebling of solar installed capacity over 2011 . And you see business models that are actually now being developed and are in place that are very attractive."
BP bought solar developer Lightsource because of the strong “fundamentals” in the market. BP paid US$200 million for 43% of the India solar developer – rebranded BP Solar – the energy major's first PV investment since it closed BP Solar in 2011 . “Effectively what we are seeing are fundamentals that are really important", said BP Alternative Energy chief executive Dev Sanyal . “Growth around 43% per annum, we've seen trebling of solar installed capacity over 2011 . And you see business models that are actually now being developed and are in place that are very attractive."