BP to pay more than $4 billion for Houston renewable energy

  • 📰 FOX26Houston
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 53%

United Kingdom United Kingdom Headlines News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

BP says they plan to invest $4.1 billion in Houston-based Archaea Energy to help deliver cleaner energy.

s energy sector is making headlines as BP says it will spend billions on a growing source of renewable energy.

At the edge of the McCarty Road landfill in northeast Houston, a collection of machines and pipes is capturing the natural gas that simmers off the mountain of trash. Built by another company, it's the kind of technology that BP is investing in.US Energy Secretary talks trouble with Texas power grid, energy companies reducing Houston’s footprint

In a statement, BP says in part, "This deal accelerates our ability to deliver cleaner energy, generate significant earnings in a fast-growing sector and help reduce emissions."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 448. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Credit Suisse Predicts Renewable Energy That Is 'Too Cheap To Meter' By 2025Credit Suisse believes the Inflation Reduction Act will have a much larger effect on the transition to renewable energy that most believe. Yay Democrats
Source: cleantechnica - 🏆 565. / 51 Read more »

Subsidies lure BP to join U.S. green gold rushThe UK energy giant is paying a 54% premium for Archaea, which extracts gas from landfill. Government support helps explain why BP thinks it can more than quadruple its target’s EBITDA by 2030, earning a double-digit return on its $4 bln investment. Others are bound to follow.
Source: Breakingviews - 🏆 470. / 51 Read more »

BP to buy U.S. biogas producer Archaea for $4.1 blnBP will buy U.S.-based renewable natural gas (RNG) producer Archaea Energy Inc for about $4.1 billion, the companies said on Monday, as the British energy major seeks to expand its alternative fuels business.
Source: Reuters - 🏆 2. / 97 Read more »