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10/03/2008 06:28 AM
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BP Suspends Plans for Nation's Largest Solar Production Plant
SustainableBusiness.com News
BP Solar, a division of BP (NYSE: BP) announced this week that it has suspended plans for a $97 million expansion in Frederick, Maryland, due to intense global competition, according to Gazette.Net.
The company said it will complete th $30 million construction of a new manufacturing building, but will not buy the $67 million worth of equipment needed to expand it's solar panel production. The company instead will use the 140,000-square-foot building to consolidate office space from other leased properties.
"We anticipate continuing on with manufacturing there; we're just not going to finish up the expansion project," Mueller said. "We're trying to position the plant to be competitive in the future and the competition globally has become very intense in the last few years. It just doesn't make sense to go forward with this expansion."
BP announced the $97 million expansion project in July 2007, intending to create the nation's largest solar production plant.
