bp to divest U.S. onshore wind assets, shifts focus to Lightsource bp for renewables

In a strategic move aimed at streamlining its portfolio and focusing on higher-value assets, bp has announced plans to divest its U.S. onshore wind energy business. The business includes 10 operational wind farms with a total net generating capacity of 1.3 gigawatts (GW). The decision aligns with bp’s broader strategy to consolidate its onshore renewable power developments under Lightsource bp, its global solar power subsidiary.

The assets are spread across seven U.S. states and include wind farms in Indiana, Kansas, South Dakota, Colorado, and Hawaii. bp has indicated that the sale process for these assets will commence shortly, with the intention of selling the business as an integrated entity. The company expects the new owner to also take on the existing workforce, ensuring continuity of operations.

This divestment comes as bp continues its journey toward becoming a more focused energy company, with an emphasis on low-carbon energy sources like solar and wind. In 2023, bp announced its decision to take full control of Lightsource bp, a key player in global solar development. bp’s focus on Lightsource bp is part of its efforts to meet the growing demand for low-carbon power and assist customers in decarbonising their operations.

According to William Lin, bp’s executive vice president for Gas and Low Carbon Energy, “bp Wind Energy’s assets are high-quality and grid-connected but are not aligned with our plans for growth in Lightsource bp. So we believe the business is likely to be of greater value for another owner.