BP’s head of renewables confirmed its strategy will focus on powering major integrated energy projects, as she denied claims that the oil supermajor is easing back on its ambition in sectors such as offshore wind.
Anja-Isabel Dotzenrath told Recharge: “My accountability, low carbon, that’s hydrogen and renewables, has been allocated $30bn of capex until the end of the decade, that’s 50% of the capex we are allocating to all our energy transition growth businesses… we’re going all-in.”
Dotzenrath spoke amid claims that BP and its CEO Bernard Looney are under pressure from investors to justify the relatively low returns on offer in renewables compared to other energy transition activities and the booming oil and gas industry.
