BP plans to sell its U.S. onshore wind energy division in a move to simplify its business and focus on its solar operation, Lightsource BP.
The London-listed oil and gas company said it would soon launch the sale process for BP Wind Energy, as the business isn’t aligned with its growth plans for renewables via Lightsource BP, a solar joint venture it expects to take full ownership of before the end of the year.
BP Wind Energy owns stakes in operating onshore wind energy assets across seven U.S. states. The grid-connected assets have a combined gross generating capacity of 1.7 gigawatts. BP didn’t provide financial details, but Bloomberg and the Financial Times have reported a business valuation of at least $2 billion.
Join the conversation as a VIP Member