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Benzinga
Benzinga
Business
Akanksha Bakshi

BP Sells US Wind Portfolio In $20 Billion Divestment Push

British Petroleum United States LS Power New York
Carnesville,,Ga,,Usa,-,June,17,,2022:,Bp,Logo,Is

BP plc (NYSE:BP) announced Friday that it will sell its entire U.S. onshore wind energy portfolio to LS Power, a New York-based energy infrastructure firm. This move is part of a broader strategy to streamline operations and prioritize targeted low-carbon investments.

The deal covers 10 wind farms across seven states with a total capacity of 1.3 gigawatts. This move is part of BP’s $20 billion divestment plan, which aims to refocus capital allocation.

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