BP to Sell its Active US Onshore Wind Business

On September 16, 2024, BP announced its intention to divest its US onshore wind energy division, bp Wind Energy, and consolidate its onshore renewable power efforts under Lightsource bp. BP Wind Energy, which operates ten onshore wind assets across seven states, has nine active sites with a total gross generating capacity of 1.7 GW (1.3 GW net to BP). These wind farms are fully grid-connected and currently supply power to various off-takers. The assets are managed remotely from a control center in Houston.

In November 2023, BP revealed its plan to acquire full ownership of Lightsource bp, its solar power joint venture. This acquisition, expected to finalize by year-end pending regulatory approvals, aims to bolster Lightsource bp’s growth and enhance its capabilities in developing cost-effective, large-scale renewable energy projects, including both solar and onshore wind. The integration of bp Wind Energy with Lightsource bp will help BP meet its demand for low-carbon power and assist customers in reducing their carbon footprints.

William Lin, BP’s EVP of Gas and Low Carbon Energy, emphasized the strategic importance of renewables in BP's transition to an integrated energy company. He noted, “While bp Wind Energy’s assets are high-quality and grid-connected, they do not align with our growth plans for Lightsource bp. Therefore, we believe the business will be more valuable under new ownership. This divestment is part of our strategy to simplify our portfolio and enhance overall value.”

BP plans to sell bp Wind Energy as a complete entity, with its experienced team expected to transfer to the new owner upon completion of the sale. The company will initiate the sale process soon, as part of its broader strategy to streamline its operations and focus on expanding its renewable energy initiatives through Lightsource bp.

BP Wind Energy's portfolio includes a diverse range of assets across the United States, showcasing a significant gross capacity. In Indiana, BP fully owns Fowler Ridge 1 and Fowler Ridge 3, with capacities of 288 MW and 99 MW, respectively, and also holds 50% ownership in Fowler Ridge 2, which has a 200 MW capacity. Kansas hosts BP's Flat Ridge 1 and Flat Ridge 2, boasting gross capacities of 44 MW and 470 MW, respectively. In South Dakota, BP owns the Titan project with a 25 MW capacity. Additionally, BP holds a 50% stake in Cedar Creek 2 in Colorado, with a capacity of 248 MW; Mehoopany in Pennsylvania, with 141 MW; Auwahi in Hawaii, with 21 MW (operated by a partner); and Goshen 2 in Idaho, with a 125 MW capacity.