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BP to sell its U.S. onshore wind business
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BP to sell its U.S. onshore wind business
Sep 16, 2024 12:38 PM

Sept 16 (Reuters) - BP said on Monday it plans to

sell its U.S. onshore wind energy business, which has interests

in ten operating onshore wind energy assets across seven states.

The company intends to integrate onshore renewable power

development into Lightsource BP, Europe's largest solar energy

developer, which BP plans to fully acquire.

BP said it will launch the sale process for its wind

assets shortly.

Several offshore wind companies have cancelled or sought

to renegotiate power contracts for planned U.S. projects in the

past year, citing soaring materials costs, high interest rates,

and supply chain disruptions.

Last month, Danish renewable energy group Orsted

reported 3.9 billion Danish crowns ($581.59 million)

in impairment losses for the second quarter, partly due to

delays in a major U.S. offshore wind project.

($1 = 6.7058 Danish crowns)

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