bp has announced that it plans to sell its existing U.S. onshore wind energy business, bp Wind Energy, and aims to bring together the development of onshore renewable power projects through Lightsource bp.
bp Wind Energy has interests in 10 operating onshore wind energy assets across seven states, operating nine of them. The assets have a combined gross generating capacity of 1.7 GW. All wind assets are grid-connected and are controlled through a remote operating center in Houston.
Last November, bp agreed to take full ownership of Lightsource bp, its solar power developer joint venture, with acquisition completion anticipated before the end of the year. The company intends to support Lightsource bp’s growth, as well as extend its capabilities as a developer worldwide for both solar and onshore wind.
“Renewables are an important part of our strategy as bp transitions to an integrated energy company,” says William Lin, bp EVP for gas and low carbon energy.
“bp Wind Energy’s assets are high-quality and grid-connected but are not aligned with our plans for growth in Lightsource bp. So we believe the business is likely to be of greater value for another owner. This planned divestment is part of our strategy of continuing to simplify our portfolio and focus on value.“
bp intends to sell bp Wind Energy as an integrated business, launching the process soon.
