Yay? Gas co. invests in renewables, sort of

[ikkeikke.livejournal.com]

Making hydrogen from natural gas isn't actually renewable. Why they're not building a giant wind-powered conversion plant in North Dakota, I don't know. (Good wind resources, low population, and if you're converting it there, it gets around the transmission bugaboo.) Have I beat that particular horse to death yet?

BP Poised to Invest Billions On Alternative Energy, Renewables
29 November 2005
Power Market Today

BP on Monday said that it plans to double its investment in alternative and renewable energies to create a new low-carbon power business with the growth potential to deliver revenues of around $6 billion a year within the next decade.

BP Alternative Energy will manage an investment program in solar, wind, hydrogen and combined cycle gas turbine (CCGT) power generation, which could amount to $8 billion over the next ten years. The move builds on the success of BP Solar, which expects to hit revenues of $1 billion in 2008, BP said.

BP chief executive John Browne said the first phase of investment would total some $1.8 billion over the next three years, spread in broadly equal proportions between solar, wind, hydrogen and CCGT power generation. Investment will be made step by step, and will depend on the nature of opportunities and their profitability. ( Read more... )