LS Power to Acquire BP’s US Onshore Wind Business
In a significant move within the US renewables sector, BP has agreed to sell its US onshore wind business to LS Power. Once the deal is finalised, the business will become part of Clearlight Energy, an LS Power portfolio company, expanding Clearlight’s operating fleet to approximately 4.3GW.
Source: ReNews
The transaction marks another key milestone in BP’s ongoing $20 billion divestment programme aimed at simplifying and focusing its global energy portfolio. BP Wind Energy comprises interests in 10 onshore wind farms across seven US states, with nine directly operated by the company. Collectively, these assets have a gross generating capacity of 1.7GW (1.3GW net to BP), and supply clean power to over 15 off-takers through grid-connected infrastructure.
As part of the sale, BP Wind Energy has been marketed as an integrated business. The existing workforce is expected to transition to Clearlight Energy once the deal completes, ensuring continuity and stability in operations.
William Lin, BP’s executive vice president for gas and low carbon energy, commented:
"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 onshore US wind business has great assets and fantastic people, but we have concluded we are no longer the best owners to take it forward."
LS Power, a long-standing investor in energy infrastructure, currently manages a 21GW operational portfolio spanning renewables, storage, flexible gas, and renewable fuels, as well as over 780 miles of transmission infrastructure. The addition of BP’s wind assets will significantly strengthen LS Power’s renewable energy footprint.