Conglomerate BP says it will divest its U.S. wind portfolio – more than 2.6 GW of installed capacity – in order to focus on its core oil and gas business.
In a statement sent to NAW, the company writes, ‘BP has decided to market for sale our U.S. wind energy business as part of a continuing effort to become a more focused oil and gas company and re-position the company for sustainable growth into the future.’
BP is a leading developer and operator of wind projects in the U.S. and is a full or part owner of 16 wind farms in nine states. Some projects include the 141 MW Mehoopany wind farm, located in Wyoming County, Pa.; the 419 MW Flat Ridge II wind farm, located in south central Kansas; and the 225 MW Trinity Hills wind farm, located in Texas.
According to a company spokesperson, the company's portfolio also includes projects in various stages of development, including an additional 2 GW of projects ‘that are nearly shovel ready.’
BP – the second largest producer of oil and gas in the U.S. – says its decision to sell its wind business does not equate to an exit from alternative energy.
According to the spokesperson, BP supports commercial and academic research furthering alternative energy through its Global Technology Center in San Diego and its sponsorship of the Energy Biosciences Institute – a joint initiative between BP, the University of California-Berkeley and the University of Illinois.
Additionally, the spokesperson says that BP continues to invest in ‘new, cutting-edge companies developing efficient energy technologies with applications in both renewable and conventional energy production.’