BP has agreed to sell its U.S. onshore wind business, BP Wind Energy North America to LS Power, a leader in North American power and energy infrastructure.
Following the transaction’s completion, BP Wind Energy will join LS Power’s portfolio company, Clearlight Energy, boosting its fleet to approximately 4.3 GW. The sale includes the workforce and ten wind assets across seven states, with a total gross capacity of 1.7 GW.
This divestment aligns with BP’s strategy to focus on low-carbon energy and enhance shareholder value. LS Power will integrate BP’s wind business into its existing portfolio of renewable energy and energy storage assets. The deal is expected to close by the end of the year, pending regulatory approvals, and is part of BP’s $20 billion divestment program. BP updated its 2025 divestment guidance to $3-4 billion, with $1.5 billion already completed or signed. Further updates will be provided in the Q2 2025 results.
KEY QUOTES:
“We have been clear that while low carbon energy has a role to play in a simpler, more focused bp, we will continue to rationalize and optimize 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. I am pleased we have reached a mutually beneficial deal with LS Power and I look forward to working with them to support our people in maintaining safe and reliable operations as we transition ownership.”
William Lin, bp EVP for gas & low carbon energy
“We are focused on a holistic approach to advancing American energy infrastructure that includes improving existing energy assets while investing in transformative strategies that make energy more efficient, affordable and available. Well-located with well-structured contracts, these new assets will expand our renewable energy presence and help to meet growing energy demand across the US. We look forward to welcoming the talented teams operating these assets to LS Power and partnering with them to drive value for our stakeholders.”
Paul Segal, CEO of LS Power
