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  "documentTitle": "BP plc (BP)",
  "authorId": "23_Bluebell_Capital",
  "authorName": "Giuseppe Bivona and Marco Taricco",
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  "presentationDate": "2024-07-23 00:00:00",
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  "notes": "The slide uses a confrontational tone to question the legitimacy of BP's project authorization strategy.",
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      "text": "we remain incredulous at the mere possibility that the Board could interpret the regulations enacted in January 2024 in such an unreasonable and potentially abusive manner, that could be viewed as a means to circumvent the proper authorization process.",
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      "text": "BP is requesting authorization for a 76 MW (Burnhope) and 77 MW (Hett Moor) facility - potentially 94 MW according to Mr. Galloway - committing to operate it at 49.9 MW...",
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      "text": "BP is requesting authorization for a 76 MW (Burnhope) and 77 MW (Hett Moor) facility - again, potentially 94 MW according to Mr. Galloway - with a commitment to operate it at 49.9 MW, which it intends to uphold.",
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      "kind": "paragraph",
      "text": "For completeness, even the presence of an energy storage capacity does not change the picture; a solar farm supplying 45 MW to battery storage and 49.9 MW to the grid effectively operates as a 94.9 MW facility...",
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      "text": "Once again, this is a question which we feel requires an immediate response from the Board, and frankly, we find no legitimate explanation for it.",
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      "text": "While we try to understand from the Board why it believes the two projects at Burnhope and Hett Moor do not require authorization at the Secretary of State level...",
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      "kind": "paragraph",
      "text": "We would be equally surprised if the new UK Government and the Rt Hon Ed Miliband MP, Secretary of State for Energy, were to endorse the illogical interpretation of the EN-3 regulation...",
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      "kind": "source-note",
      "text": "19 according to Mr. Galloway’s calculations for Hett Moor solar farm",
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      "kind": "title",
      "text": "BLUEBELL CAPITAL PARTNERS",
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      "text": "4. Question B: Why does BP intend to build solar farms that are 50% or even 100% larger than necessary to sell the energy BP is authorized to produce?",
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