Energy giant bp announced today an agreement to sell its onshore wind business, bp Wind Energy, to power and energy infrastructure developer and operator LS Power, forming part of bp’s strategy to refocus on growing its oil and gas business.
bp Wind Energy’s portfolio includes 10-grid connected wind assets in the U.S. across states including Indiana, Kansas, South Dakota, Colorado, Pennsylvania, Hawaii and Idaho, with a net capacity of 1.3 GW.
The agreement follows the launch of a new strategy announced by bp in February 2025, reallocating capital to increase oil and gas investment and reducing low carbon energy to less than 5% of the company’s capex allocation. The strategy included plans for approximately $20 billion of divestments by the end of 2027.
William Lin, bp EVP for Gas & Low Carbon Energy, said:
“We have been clear that while low carbon energy has a role to play in a simpler, more focused bp, we will continue to rationalize and optimize our portfolio to generate value. The onshore US wind business has great assets and fantastic people, but we have concluded we are no longer the best owners to take it forward.”
LS Power said that it will integrate the bp business into its U.S. and Canada renewables-focused portfolio company Clearlight Energy, increasing Clearlight’s operating fleet to approximately 4.3 GW. LS Power launched Clearlight earlier this year, following its acquisition of Algonquin Power & Utilities’ renewable energy business.
Paul Segal, Chief Executive Officer of LS Power, said:
“LS Power’s mission is to solve complex energy problems to improve the world and make lives better by developing a cleaner, more reliable, and affordable energy ecosystem, and today’s announcement represents a material investment in reaching that goal.”
