"The challenge for solar power is to reduce its costs to the level at which it competes on an equal footing with conventional electricity delivered through the power grid. To do this we need to expand at scale and reduce costs." says global CEO of BP Solar, Reyad Fezzani.
"We've looked at all options in our Sydney manufacturing site and the physical location, lack of expansion potential and lease agreements just don't make it competitive: the most modern Solar PV manufacturing plants are up to twenty times larger than our Sydney site and we are competing in this global market."
"It is a sad day for us as a company and for the sydney plant. We deeply regret the job losses that will result from the closure and are talking to staff today about what this means for them, I'd like to publicly thank the BP Solar staff at Sydney Olympic Park for their commitment to the company over the years."
"Globally, BP is investing around $1.5 billion US dollars per year in alternative energy, building material, focussed, low carbon energy businesses. BP Solar is a material part of BP's Alternative Energy portfolio, and it needs to compete for investment and demonstrate profitable returns, just like our other businesses in the BP Group. Faced with a tough external environment, and an increasingly competitive solar market, we are focussing hard and listening to our customers."
"Globally, BP is investing around $1.5 billion US dollars per year in alternative energy, building material, focussed, low carbon energy businesses. BP Solar is a material part of BP's Alternative Energy portfolio, and it needs to compete for investment and demonstrate profitable returns, just like our other businesses in the BP Group. Faced with a tough external environment, and an increasingly competitive solar market, we are focussing hard and listening to our customers."
