British oil and gas multinational BP Plc (NYSE:BP) has announced plans to sell its onshore wind business in the U.S., saying the business is not aligned with its growth plans as it seeks to focus on its Lightsource BP solar partnership. The company says it will launch the sale process shortly for BP Wind Energy, which has interests in 10 operating onshore wind energy assets across seven U.S. states with net generating capacity totaling 1.3 GW. …
British oil and gas company BP has decided to focus more on its core tasks and is therefore selling its wind energy business on the US mainland. BP currently co-owns ten wind farms in the United States. This step marks a remarkable change of direction in the group's renewable energy strategy.
British oil and gas multinational BP Plc (NYSE:BP) has announced plans to sell its onshore wind business in the U.S., saying the business is not aligned with its growth plans as it seeks to focus on its Lightsource BP solar partnership. The company says it will launch the sale process shortly for BP Wind Energy, which has interests in 10 operating onshore wind energy assets across seven U.S. states with net generating capacity totaling 1.3 GW. …
LONDON (ANP/BLOOMBERG) - British oil and gas company BP has decided to focus more on its core activities and is therefore selling its wind energy activities on the American mainland. BP currently co-owns ten wind farms in the United States. This step marks a remarkable move by the...
The strategy behind BP’s plan to sell its US onshore wind energy division
BP plans to sell its U.S. onshore wind energy division in an effort to simplify its business and focus on its solar operation, The Wall Street Journal reports. The oil and gas company says it will soon launch the sale process for BP Wind Energy, saying the business isn’t aligned with its growth plans for renewables via Lightsource BP, a solar joint venture it anticipates taking full ownership of before the end of the year. BP Wind Energy owns s…