BP has taken a further step back from the renewables sector by selling its US onshore wind business, BP Wind Energy North America, to North American company LS Power.
Wind Energy will be owned and operated as part of LS Power portfolio company Clearlight Energy, with its workforce expected to transfer to the new owner on completion of the deal.
The business has interests in 10 operating onshore wind energy assets across seven US states, operating nine of them.
The assets have a combined gross generating capacity of 1.7GW (1.3GW net to BP). All wind assets are grid-connected and are already providing power to over 15 off-takers.
BP said the deal is part of it focusing of “prioritising investment choices whilst delivering value for shareholders”.
William Lin, BP EVP for gas & low carbon energy, said, “We have been clear that while low carbon energy has a role to play in a simpler, more focused BP, we will continue to rationalise and optimise our portfolio to generate value.
“The onshore US wind business has great assets and fantastic people, but we have concluded we are no longer the best owners to take it forward.
“I am pleased we have reached a mutually beneficial deal with LS Power and I look forward to working with them to support our people in maintaining safe and reliable operations as we transition ownership.”
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