BP to offload US onshore wind business

BP Plc (LON:BP) plans to dispose of its US onshore wind business, BP Wind Energy, as the oil and gas major is simplifying its portfolio and focusing on value.

The business currently has 1.7 GW of gross onshore wind generating capacity. It operates nine wind farms across six states and has interest in a 10th wind facility in Hawaii.

Financial Times reported that BP’s US onshore wind business is estimated to be worth USD 2 billion (EUR 1.8bn).

“bp Wind Energy’s assets are high-quality and grid-connected but are not aligned with our plans for growth in Lightsource bp,” William Lin, BP executive vice president for gas & low carbon energy, said on Monday.

“This planned divestment is part of our strategy of continuing to simplify our portfolio and focus on value,“ he also said.

In late 2023, BP announced an agreement to fully acquire Lightsource bp. The oil group now plans to expand Lightsource bp’s capabilities to also encompass onshore wind.

(USD 1 = EUR 0.899)

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