BP has completed the sale of its onshore wind business in the United States, transferring all of BP Wind Energy North America to LS Power. The transaction is part of the British company’s divestment program, as a strategy to simplify and focus on low-carbon energy investments more aligned with its priorities.
New wind energy services from LS Power
The integration of BP Wind Energy will strengthen LS Power ‘s presence in the renewable energy segment. The acquired assets include 10 wind farms spread across seven U.S. states, with a total gross capacity of 1.7 GW, of which 1.3 GW was net to bp. The nine wind farms were operated directly by the company and all of them are currently connected to the grid.
The new assets will become part of Clearlight Energy, which will increase its operating fleet to 4.3 GW. This integration will allow LS Power to consolidate its position in the North American market and expand its portfolio of sustainable energy solutions.
Since 2020, bp has been pursuing a divestment program with the goal of generating up to $20 billion and optimizing its business portfolio. The divestment aligns with that focus, allowing the company to prioritize resources toward low-emission energy areas where it can deliver greater value.
We have been clear that while low-carbon energy has a role to play in a simpler, more focused scenario, we will continue to rationalize and optimize our portfolio to generate value.
William Lin, executive vice president of gas and low-carbon energy.
For LS Power, this acquisition reinforces a comprehensive strategy that combines renewable energy, storage, transmission infrastructure and alternative fuel projects. With more than 21 GW of energy assets and 780 miles of transmission lines in operation, the firm seeks to respond to the growing demand for clean energy in the country.
The transaction is subject to regulatory approvals and is expected to close before the end of the year. At that time, the entire BP Wind Energy team will be formally integrated , ensuring an orderly transition without affecting service quality or energy production.
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Source and photo: bp
