BP transfers control of its U.S. onshore wind energy operations to another entity
BP Wind Energy Assets Sold to LS Power
In a significant move, BP has agreed to sell its onshore wind business, BP Wind Energy, to LS Power. This sale is part of BP's new strategy to focus on growing its oil and gas business.
The sale, worth $20 billion as part of BP's divestment plan, will see BP Wind Energy's portfolio of 10 grid-connected wind assets in the U.S., with a net capacity of 1.3 GW, become part of LS Power's renewable energy operations. These assets are located across states including Indiana, Kansas, South Dakota, Colorado, Pennsylvania, Hawaii, and Idaho.
LS Power will integrate BP Wind Energy into Clearlight Energy, its U.S. and Canada renewables-focused portfolio company. This acquisition will expand Clearlight Energy’s renewables capacity to about 4,300 MW, significantly increasing their operating fleet.
The assets, currently providing power to over 15 off-takers, will be managed by an experienced workforce expected to transfer to LS Power upon deal completion. LS Power’s portfolio already comprises 21,000 MW of operating capacity across renewables, energy storage, flexible gas, and renewable fuels, plus extensive high-voltage transmission infrastructure.
For BP, this sale is part of a broader strategy aimed at simplifying and refocusing its portfolio to prioritize investments that generate shareholder value. William Lin, BP Executive Vice President for Gas & Low Carbon Energy, has commented on the sale.
LS Power's acquisition reflects its growth trajectory and strengthening position in the North American renewable energy market through increased wind capacity. Paul Segal, CEO of LS Power, stated that the acquisition represents a significant investment in creating a cleaner, more reliable, and affordable energy ecosystem.
With this acquisition, Clearlight Energy will integrate the acquired BP wind assets to diversify and expand its renewable portfolio beyond its current mix of wind, solar, and battery storage. This move is expected to strengthen Clearlight’s market presence across the U.S. and Canada in renewable generation.
The transaction is expected to close by the end of 2025, subject to regulatory approvals. The integration of BP Wind Energy into Clearlight Energy will not be BP's primary focus, as they have concluded they are no longer the best owners to take it forward.
This sale marks a strategic shift for BP, following a new strategy launched in February 2025, which reallocates capital to increase oil and gas investment. The strategy also includes plans for approximately $20 billion of divestments by the end of 2027.
Sources: [1] LS Power Press Release [2] BP Press Release [3] Renewables Now [4] Reuters News
- The renewable energy industry witnessed a significant development as LS Power, through its acquisition of BP Wind Energy, expanded its renewables capacity to about 4,300 MW, with the integration of 10 grid-connected wind assets from BP.
- In light of BP's new strategy to focus on growing its oil and gas business, the finance sector has observed a potential $20 billion divestment, resulting from the sale of BP Wind Energy to LS Power, signifying a shift in the energy market towards greater fossil fuel investments.
