BP to sunset Aussie solar plant

UK supermajor BP will close its Australian solar-cell factory by early next year to focus on bigger, lower-cost operations offshore.

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 US, Spain, France and India.
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