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  "documentTitle": "BP plc (BP)",
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  "authorName": "Giuseppe Bivona and Marco Taricco",
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  "presentationDate": "2024-07-23 00:00:00",
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      "text": "In our opinion, building a solar farm of 76-77 MW (or 94 MW) that produces energy equivalent to a 49.9 MW facility would at best yield a low-single-digit IRR and would certainly represent a heavily loss-making project for shareholders, regardless of the capital structure adopted.",
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      "text": "We noticed that in the Planning Statement of Burnhope’s revised application, BP has stated the following: 5.16 The grid connection agreement... 5.17 The Burnhope Solar Farm installed solar panel capacity is ~75.79MWp...",
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      "kind": "paragraph",
      "text": "These investments would benefit those who build the facility, those who supply the panels, those who maintain them, and those who insure them. In this regard, we wish to know whether the insurance company Aviva...",
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      "text": "In the first excluded scenario, this would constitute an operation detrimental to the local communities of Burnhope and Hett, circumventing the English Government in the authorization process and indirectly harming BP shareholders...",
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      "text": "In our opinion, building a solar farm of 76-77 MW (or 94 MW) that produces energy equivalent to a 49.9 MW facility would at best yield a low-single-digit IRR and would certainly represent a heavily loss-making project for shareholders...",
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      "text": "In the second excluded scenario, it would represent a gratuitous operation harmful to local communities (why build facilities that are 50% or 100% larger than necessary?) and directly detrimental to shareholders...",
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      "kind": "quote",
      "text": "5.16 The grid connection agreement with Northern Power grid, which is attached at Appendix 1, prevents Lightsource bp from exporting more than 45MW(AC) at any one time from the site. 5.17 The Burnhope Solar Farm installed solar panel capacity is ~75.79MWp with maximum combined capacity of the installed inverters of ~49.9MW(AC). The stated export capacity in the planning application is up to 49.9MW(AC). This is within the EN-3 threshold and allows for a future increase in export capacity beyond 45 MW(AC) if more capacity were to become available on the network at a later date (Appendix B, p. 26)20. — Planning Statement of Burnhope's revised application",
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      "kind": "source-note",
      "text": "20 https://publicaccess.durham.gov.uk/online-applications/applicationDetails.do?keyVal=RDKR1SGDMT500&activeTab=summary",
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      "text": "BLUEBELL CAPITAL PARTNERS",
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