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BP to expand EV charging network at M&S stores

FILE PHOTO: BP boosts divident after profits hit 14-year high

(Reuters) - BP Plc on Thursday said its British electric vehicle charging business bp pulse will install high-speed charge points at around 70 Marks & Spencer retail outlets.

The oil major is stepping up the pace of liquidating fossil-fuel assets to raise funds to invest in renewable-energy projects amid a global push for decarbonisation by energy firms.

The first pilot charging sites are open at M&S Maidstone Eclipse and Southgate stores, with an initial target to install around 900 points, adding up to 40,000 kilowatt-hours of charging capacity within the next two years.

Meanwhile, BP plans to invest up to 1 billion pounds ($1.22 billion) in UK EV charging infrastructure by 2030.

BP and M&S first teamed up in 2005 to introduce M&S Food stores at bp retail sites. More than 250 bp pulse charge points are already available at over 60 bp-operated forecourts, which also offer M&S Food.

($1 = 0.8222 pounds)

(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Dhanya Ann Thoppil)