bp announced that it has agreed to sell its US onshore wind business, BP Wind Energy North America Inc. (bp Wind Energy), to LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector. After close, bp Wind Energy will be owned and operated as part of LS Power portfolio company Clearlight Energy, increasing its operating fleet to ~4.3GW.
“We are focused on a holistic approach to advancing American energy infrastructure that includes improving existing energy assets while investing in transformative strategies that make energy more efficient, affordable and available. Well-located with well-structured contracts, these new assets will expand our renewable energy presence and help to meet growing energy demand across the US. We look forward to welcoming the talented teams operating these assets to LS Power and partnering with them to drive value for our stakeholders.” – Paul Segal, LS Power CEO
The deal is expected to conclude by the end of the year, subject to regulatory approvals. It is the latest example of bp’s $20bn divestment program to simplify and focus the business. In its 1Q25 results, bp updated its divestment guidance to $3-4bn for 2025, with $1.5bn signed or completed to that date. Further progress on divestment proceeds will be provided as part of 2Q25 results.
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