bp has announced the sale of its U.S. onshore wind business, BP Wind Energy North America Inc., to LS Power, a major player in North American energy infrastructure. The sale, part of bp's ongoing $20 billion divestment program, is expected to close by the end of 2025 pending regulatory approvals.

The business, which includes interests in 10 operational wind assets across seven states, has a combined gross generating capacity of 1.7 gigawatts (1.3GW net to bp) and currently supplies power to over 15 off-takers. After the deal closes, the portfolio will become part of LS Power's subsidiary Clearlight Energy, boosting its renewable operating fleet to approximately 4.3GW.

William Lin, bp's EVP for Gas & Low Carbon Energy, said the move aligns with bp's strategy to "rationalize and optimize" its portfolio while maintaining its focus on value creation and low-carbon energy investments.

Paul Segal, CEO of LS Power, emphasized that the acquisition supports their mission to modernize American energy infrastructure. "These new assets will expand our renewable energy presence and help meet growing energy demand across the U.S.," Segal said.

The deal includes the transfer of bp's wind energy workforce to LS Power, ensuring continued safe and reliable operations. LS Power currently manages a 21GW portfolio, including renewable, storage, gas, and transmission assets.

Source: bicmagazine.com