Britain's BP To Close Australian Solar-Cell Plant
Date: 19-Nov-08
Country: AUSTRALIA
The solar industry is facing increased competition globally and BP needs to expand its production scale and reduce costs, BP's Australian unit said in a statement, adding that the Sydney plant lacked expansion potential.
The factory is the BP's smallest such plant and makes, each year, cells capable of producing a total of 50 megawatts. It would close by end-March, shedding about 200 jobs, BP said.
BP invests about $1.5 billion a year in alternative energy and has solar-cell plants in countries including Germany, the United States, Spain, France and India.
(Reporting by Fayen Wong, Editing by Mark Bendeich)