BP Shuts down alternative energy headquarters
June 29, 2009
BP has shut down its alternative energy headquarters in London, accepted the resignation of its clean energy boss and imposed budget cuts... ....BP Alternative Energy was given its own headquarters in County Hall opposite the Houses of Parliament two years ago and its managing director, Vivienne Cox, oversaw a small division of 80 staff concentrating on wind and solar power. But [Cox] BP's most senior female executive, who previously ran renewables as part of a larger gas and power division now dismantled by Hayward is standing down tomorrow. This comes alongside huge cuts in the alternative energy budget from $1.4bn (850m) last year to between $500m and $1bn this year, although spending is still roughly in line with original plans to invest $8bn by 2015.Earlier this year the company shut down solar operations in the US and Spain. Meanwhile, BP is still moving into more destructive oil operations, such as Canada's tar sands.