Oakland, Calif.-based Orion Energy, an independent developer of wind energy projects in the U.S., has been acquired by Houston-based BP Alternative Energy, a wholly owned subsidiary of BP.
‘We have undertaken a rigorous process to find the right strategic partner for Orion,’ said Michael Haas, president of Orion. ‘We chose BP because of the company's long-standing commitment to find practical solutions to climate change, its financial strength and proven ability to develop long-term energy projects, and BP's significant presence in the traded U.S. electricity markets.’
Orion has developed approximately 1,300 MW of wind projects, with 30 active development projects in 16 states and a potential total generating capacity in excess of 6,000 MW. With the acquisition of Orion, BP's North American wind portfolio includes an opportunity to develop almost 100 projects with a potential total generating capacity of about 15,000 MW.
According to Orion representatives, this acquisition includes a substantial portion of Orion's existing development assets with certain projects excluded from the sale.