BP Wind Energy Seeking To Sell Development Portfolio By Year-End

NAW Staff, Tuesday 29 October 2013 - 00:00:00

Although the company halted plans to sell its wind energy business in July, BP is still actively seeking to divest its entire U.S. development portfolio by year-end. In fact, the company recently submitted a notice to the New York Public Service Commission about its plans, including the potential sale of its 285 MW Cape Vincent wind project.

The notice did not provide much detail, but a BP spokesperson tells NAW that the company’s portfolio includes 18 projects, representing approximately 3 GW in varying stages of development throughout the U.S.

“BP is seeking to sell these assets in one or more transactions,” the spokesperson says. “It is expected that the transactions will close by year-end. The terms of sale are confidential.”

In April, BP announced plans to sell its entire U.S. wind energy business, but despite receiving a number of bids, the company later said it was “not the right time to sell the business.” Although BP is currently looking to divest its development portfolio, the spokesperson says the company will retain its operating wind farms for now.








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