bp agrees to sell US onshore wind business to LS Power

After close, bp Wind Energy will be owned and operated as part of LS Power portfolio company Clearlight Energy, increasing its operating fleet to approximately 4.3 GW.

The deal is part of bp’s focusing of its low carbon energy portfolio, prioritising investment choices whilst delivering value for shareholders.

William Lin, bp Executive Vice President for gas and low carbon energy, said: “We have been clear that while low-carbon energy has a role to play in a simpler, more focused bp, we will continue to rationalise and optimise our portfolio to generate value.”

The deal is expected to conclude by the end of 2025, subject to regulatory approvals. It is the latest example of bp’s US$20 billion divestment programme to simplify and focus the business. In its 1Q25 results, bp updated its divestment guidance to US$3 - 4 billion for 2025, with US$1.5 billion signed or completed to that date. Further progress on divestment proceeds will be provided as part of 2Q25 results.

Read the article online at: https://www.hydrocarbonengineering.com/the-environment/22072025/bp-agrees-to-sell-us-onshore-wind-business-to-ls-power/