US EditionBP Offloads US Onshore Wind Business as It Pivots Back to Oil
UNITED STATES, JUL 18 – BP is selling 10 US wind farms with 1.3 GW capacity to LS Power as part of a $20 billion asset sale plan to refocus on oil and gas and improve shareholder returns.
- 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.
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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 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…
Anadolu Ajansı
Hydrocarbon Engineeringbp agrees to sell US onshore wind business to LS Power
Deal is expected to close by end of 2025, pending regulatory approvals - Anadolu Agency
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