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.

IOWA Economic Development id2073

Trachte_id2056
Latest Top Stories

More Investors Entering Tax Equity Market; Returns Holding Steady

The entry of new tax equity investors to the wind space last year re-ignited an old debate.


Report: Top 10 Turbine OEMs Had Record Year In 2014

Preliminary findings suggest Vestas reigned supreme again among the world's leading wind turbine makers. How did some of the other OEMs fare?


AWEA's Gramlich To FERC: Additional Transmission Needed Regardless Of Clean Power Plan

To further build a more balanced and reliable electricity portfolio, the U.S. needs to build more transmission capacity.


Getting A Grip On Grinding Gearboxes: Why Such Events Need Not Be Showstoppers

Despite advances in gearbox reliability - namely, from condition monitoring systems and greater design standardization - challenges remain.


How Wind Energy Can Meet EPA Clean Power Plan Requirements

According to the American Wind Energy Association, wind power is a cost-effective solution for complying with the environmental effort.

Hybrid Energy Innovations 2015