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BP to Deepen Ties With Amazon by Supplying More Renewable Energy
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BP plc (BP - Free Report) announced agreements that call for an extension of its long-standing relationship with Amazon.com, Inc. (AMZN - Free Report) .
Per the new set of accords, the British energy giant will provide additional renewable energy that will power Amazon’s operations and Amazon Web Services (“AWS”). BP will more than triple the renewable energy that it will be supplying to Amazon in Europe.
From 2022 onward, BP will supply an additional 404 megawatts (MW) of wind power to Amazon in Europe. Notably, BP will source 275 MW of power from a Sweden-based new wind development. The remaining power will get sourced from two Scotland-based new wind projects. Importantly, the latest clean power deals are in addition to the prior agreement in December 2019, per which, BP will provide 170MW of renewable power to AWS in Europe.
It is to be noted that these initiatives signify BP’s ambitious goal of leading energy transition, with a target of transforming to a net-zero emission company by 2050. At the same time, it will be helping clients to decarbonise their operations.
Overall, based on the long-standing relationship, BP will be supplying cleaner energy to Amazon and in return, the Seattle, WA-based company will facilitate the British energy major’s digital transformation.
Currently, BP carries a Zacks Rank #3 (Hold). Some better-ranked players in the energy space include Summit Midstream Partners, LP (SMLP - Free Report) and DCP Midstream, LP , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Summit Midstream has seen upward earnings estimate revisions for 2020 in the past seven days.
DCP Midstream has seen upward estimate revisions for 2020 earnings in the past 30 days.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
Image: Bigstock
BP to Deepen Ties With Amazon by Supplying More Renewable Energy
BP plc (BP - Free Report) announced agreements that call for an extension of its long-standing relationship with Amazon.com, Inc. (AMZN - Free Report) .
Per the new set of accords, the British energy giant will provide additional renewable energy that will power Amazon’s operations and Amazon Web Services (“AWS”). BP will more than triple the renewable energy that it will be supplying to Amazon in Europe.
From 2022 onward, BP will supply an additional 404 megawatts (MW) of wind power to Amazon in Europe. Notably, BP will source 275 MW of power from a Sweden-based new wind development. The remaining power will get sourced from two Scotland-based new wind projects. Importantly, the latest clean power deals are in addition to the prior agreement in December 2019, per which, BP will provide 170MW of renewable power to AWS in Europe.
It is to be noted that these initiatives signify BP’s ambitious goal of leading energy transition, with a target of transforming to a net-zero emission company by 2050. At the same time, it will be helping clients to decarbonise their operations.
Overall, based on the long-standing relationship, BP will be supplying cleaner energy to Amazon and in return, the Seattle, WA-based company will facilitate the British energy major’s digital transformation.
BP p.l.c. Price
BP p.l.c. price | BP p.l.c. Quote
Currently, BP carries a Zacks Rank #3 (Hold). Some better-ranked players in the energy space include Summit Midstream Partners, LP (SMLP - Free Report) and DCP Midstream, LP , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Summit Midstream has seen upward earnings estimate revisions for 2020 in the past seven days.
DCP Midstream has seen upward estimate revisions for 2020 earnings in the past 30 days.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>