BP Halts Sale Of U.S. Wind Energy Business

NAW Staff, Tuesday 30 July 2013 - 12:04:21

Despite receiving "a number of bids," BP has announced it no longer plans to divest its U.S. wind energy business.

In April, the conglomerate revealed intentions to sell its wind portfolio in order to focus on its core oil and gas business. BP is a full or part owner of 16 wind farms in nine states with a cumulative capacity of approximately 2.6 GW. In addition, the company told NAW in April that its portfolio also includes 2 GW more worth of projects that are "nearly shovel ready.”

According to a company spokesperson, BP is terminating the marketing of its wind energy assets because “the company has determined that now is not the right time to sell the business.” The spokesperson adds, “Our focus will remain on safely maximizing the financial and operational performance of the existing assets.”





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