BP Solarex exceeds 1999 targets and aims for $1 million revenue by 2007

Plans to increase production of thin film photovoltaics are part of BP Solarex's plans for 2000. The company also expects to see continued growth in the grid-connected solar market.

BP Solarex is one of the world’s largest photovoltaic companies (see related story) and was created through the merger of BP and Amoco. The newly-merged company’s first set of financial results show that it exceeded its revenue goals for 1999 by 12%.

“We’re still reviewing all our technologies and I would not say that investment has ended in any of them,” a BP Solarex spokesperson told edie. “But thin film technology is what we’re banking on for the future.”

Production of BP Solarex’s amorphous silicon thin film photovoltaics (see related story) will be increased at the company’s production facility in Virginia, USA. The company also has factories in Australia, Spain and India.

Another area of priority for 2000 will be the grid-connected market. “The remote market is the traditional market and represents about 35% of our business, but the fastest-growing market is grid-tied,” says the spokesperson. BP Solarex is working with glass and architectural firms to promote the use of photovoltaics as a building material. “The big challenge is to get in front of architects so that they can see what it can do,” says the spokesperson.

BP Solarex has set itself a target of revenues in excess of $200 million for 2000 and a 20% share of the worldwide photovoltaic market. Its longer-term target is to reach $1 billion revenue by 2007.

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