The Strategist

BP plans to sell wind energy business in the U.S.



09/17/2024 - 09:42



BP Plc announced that it is selling its wind energy business in the United States, known as BP Wind Energy, according to a statement.



Mike Mozart
Mike Mozart
BP Wind Energy has investments in ten wind farms across seven states. All of them are linked to the network, with a combined capacity of 1.3 gigawatts.

According to the Financial Times, RBC Capital Markets analysts approximate the business to be worth around $2 billion.

The company expressed its intention to concentrate on solar power business Lightsource BP as the primary platform for its renewable energy growth in the US.

BP's head of gas and low-carbon energy William Lin stated that this scheduled sale is a component of a plan to continue streamlining our portfolio.

source: ft.com




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