US EditionBP Offloads US Onshore Wind Business as It Pivots Back to Oil
UNITED STATES, JUL 18 – BP speeds up divestment from renewable energy by selling its US wind business as part of a strategic shift away from green investments.
- BP will sell its entire U.S. onshore wind energy portfolio to LS Power, a New York-based energy infrastructure firm, as announced on Friday.
- This sale is part of BP's $20 billion divestment plan aimed at refocusing capital allocation.
- LS Power intends to include the wind projects in its clean energy portfolio, which includes 21GW of power generation.
- CEO Murray Auchincloss stated that this decision aligns with plans to cut investments in renewable energy and increase spending in oil and gas.
28 Articles
28 Articles
BP to Sell US Onshore Wind Business as It Refocuses on Oil and Gas
BP is selling its U.S.-based onshore wind business as the energy giant shifts its focus back to its core business of oil and gas. On July 18, BP Plc announced an agreement to sell its BP Wind Energy North America Inc. to LS Power, a U.S.-based power and energy infrastructure company. The deal marks a key move in BP’s ongoing strategy to streamline its portfolio and shift capital back toward oil and gas operations. In a statement, William Lin, BP…
BP to Sell US Onshore Wind Business as It Refocuses on Oil and Gas - The Thinking Conservative
BP is selling its U.S.-based onshore wind business as the energy giant shifts its focus back to its core business of oil and gas. The post BP to Sell US Onshore Wind Business as It Refocuses on Oil and Gas appeared first on The Thinking Conservative.
BP to sell US onshore wind business to LS Power for undisclosed sum
BP has agreed to sell its U.S. onshore wind business to U.S.-based power grid operator LS Power, as part of its ongoing divestment strategy, the energy major said on Friday, without disclosing a deal value.
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