In an official statement, bp announced the selling of its US onshore wind business, BP Wind Energy North America Inc. (bp Wind Energy), to LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector.
This transaction supports bp’s strategy to streamline its low carbon energy portfolio by focusing on selected investments and maximizing shareholder value.
According to the company’s statment, bp Wind Energy will become part of LS Power’s portfolio company, Clearlight Energy, expanding Clearlight’s operational capacity to approximately 4.3 gigawatts (GW), when the deal is complete.
The sale includes bp Wind Energy as a fully integrated business, and its experienced team is expected to join LS Power upon completion of the transaction.
The business holds ownership in 10 operating onshore wind projects across seven US states, directly managing nine of them. These wind farms collectively generate 1.7 GW of electricity (1.3GW net attributed to bp). All the assets are connected to the grid and currently supply power to more than 15 different off-takers.
The transaction is projected to close by the end of 2025 as it is pending regulatory approvals. It came as part of bp’s $20 bilion divestment program to simplify and focus the business.
Recently, bp announced the sale of its mobility and convenience businesses, including bp pulse, in the Netherlands to Catom, as part of its $20 billion divestment program.
