BP Sells 430 MW of its Wind portfolio in USA

BP has announced that it has sold three completely owned wind facilities totaling 430 MW to funds managed by associates of Ares Management Corporation, with Bank of America Merrill Lynch serving as financial consultant to BP in the deal, BP has alleged. The three completely-owned BP wind facilities are– Silver Star (60MW generating capacity), Sherbino Mesa 2 (145MW) and Trinity Hills (225 MW).

“This deal allows us to focus on optimizing and upgrading our other sites, helping us create a wind energy business that is sustainable for the long term”, asserted Laura Folse CEO of BP Wind Energy.

BP Wind Energy will utilize the proceeds from the deal to support technology upgrades away within its significant enduring US wind portfolio. Subsequent to the deal, BP will persist to own interests in 11 wind farms in eight states, 10 of which it operates, with a net ownership of more than 1000 megawatts of wind power.

“BP’s commitment to a low-carbon energy future remains as strong as ever as we seek to reduce emissions in every part of our business, improve our products and create new low-carbon businesses,” added Dev Sanyal, CEO, BP Alternative Energy.