BP is planning to start powering some of its operations in the United States with electricity produced by solar farms, Bloomberg reports , quoting the chief executive of an affiliate, Lightsource BP. The UK-based supermajor bought a 43-percent stake in Lightsource two years ago, committing to spend US$200 million on the company over a period of three years. “It’s a no brainer for them to play in solar,” Lightsource’s chief executive Katherine Ryzhaya told Bloomberg. “They’re doing it for financial reasons.” Indeed, solar power is becoming increasingly competitive as production costs fall and efficiency rates rise, the former faster than the latter. Also, there is the reputation management element that supermajors are no doubt pursuing by turning to renewables to power their oil and gas business. Last year, even Exxon, which is notorious for its conservative attitude to renewables, sealed a deal with Danish renewable energy company Orsted to […]