NEW YORK, June 1, 2021: Morgan Lewis is advising BP Alternative Energy North America Inc. in an agreement to expand the company’s renewables pipeline with the purchase of 9 gigawatts of solar development projects in the United States from 7X Energy Inc. Under the terms of the agreement, BP will pay 7X $220 million for the projects and 1 gigawatt of “safe harbor” equipment.
BP is one of the largest energy, oil, and gas industry companies worldwide. 7X is an independent power producer that develops, owns, and provides asset management services of utility-scale solar projects. Morgan Lewis partners Steven Navarro and Elizabeth Hanigan, and associates Alexander Smorczewski and Raphaelle Debenedetti are representing BP in the transaction.