ABB_id2059
in News Departments > New & Noteworthy
print the content item

BP has purchased Charlottesville, Va.-based Greenlight Energy Inc., a developer of wind power generation projects across the U.S. The purchase will allow BP to accelerate its plans to develop a leading wind power business in North America through its BP Alternative Energy sector that was launched in November 2005.

From the purchase, BP has acquired all the shares of Greenlight Energy for a consideration of some $98 million, excluding working capital and tax adjustments, the company says. The company also plans on developing Greenlight's portfolio of mature and early-stage projects in the U.S. over the next five years - with a potential total power generating capacity of 6.5 GW.

"This purchase gives BP Alternative Energy immediate access to a large number of high-quality wind development projects across the country, including a number of projects we expect to be able to develop over the next few years," says Steve Westwell, BP Alternative Energy's chief executive.

Hybrid Energy Innovations 2015

Trachte_id2056
Latest Top Stories

High Net-Worth Investors Claim ‘All Of The Above’ On Energy; Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.


Report: Policy Uncertainty Fuels Market Exodus As Firms Bolt North American Wind Industry

The global wind energy supply chain has yet to recover from the slump that began in 2013. In fact, many segments are undergoing a transformation, according to market research firm FTI Consulting.

Hybrid Energy Innovations 2015