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Released July 21, 2025 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--After pointing to potential financial headwinds in the second quarter, British energy giant BP plc (London) said it was selling off its U.S. onshore wind energy business to LS Power Group (New York, New York).
BP said its wind energy division holds stakes in 10 onshore wind facilities across seven U.S. states, operating all but one of them. Combined, the portfolio has a power capacity of 1.7 gigawatts (GW) connected to 15 off-takers.
William Lin, the executive vice president for BP's gas and low-carbon energy division, said clean energy remains a priority for the company, but it needs to streamline its business.
"The onshore U.S. wind business has great assets and fantastic people, but we have concluded we are no longer the best owners to take it forward," he said.
The Mehoopany Windfarm is the largest unit by capacity that's operated by BP. Situated in Tunkhannock, Pennsylvania, the facility boasts a nameplate capacity of 140.8 megawatts.
LS Power, for its part, will combine BP's assets with an operating portfolio of renewables and natural gas for a combined 21 GW of capacity, along with 780 miles of high-voltage transmission lines and another 350 miles under development.
Terms of the acquisition were not disclosed.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Project and Plant databases can learn more about BP's wind energy division in North America in a company profile, and click here for a company profile on LS Power Group.
The trajectory for U.S. wind energy is uncertain given President Donald Trump's preference for fossil fuels. He scrapped plans for offshore wind energy leases in one of his first acts of office, and lawmakers recently passed a measure that unwinds many incentives for renewable energy.
The Energy Information Administration (EIA), the statistical arm of the U.S. Department of Energy, expects wind to outpace solar power generation this year, though solar is expected to dominate during the summer months.
The EIA in its Short-Term Energy Outlook for July found wind accounted for about 45% of the renewable energy on the grid this year and capacity is on pace to increase by 4.7% next year, despite political obstacles.
BP, meanwhile, is on a divestment spree, with plans to shed as much as $4 billion from its portfolio yet this year. To date, it's completed $1.5 billion toward that goal.
In a guidance statement released July 11, BP said it expected oil and gas production to be higher than first-quarter levels, though it expects to see an impact in its gas and low-carbon business segment. The same holds for its oil division.
BP reported $982 million in profit on sales of about $48 billion in the first quarter, well below year-ago results of $2.5 billion on revenue of roughly $50 billion. British energy company Shell plc (London) last month shot down rumors that it was making a bid for rival BP, saying laws in the United Kingdom prevented it from making an offer.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
BP said its wind energy division holds stakes in 10 onshore wind facilities across seven U.S. states, operating all but one of them. Combined, the portfolio has a power capacity of 1.7 gigawatts (GW) connected to 15 off-takers.
William Lin, the executive vice president for BP's gas and low-carbon energy division, said clean energy remains a priority for the company, but it needs to streamline its business.
"The onshore U.S. wind business has great assets and fantastic people, but we have concluded we are no longer the best owners to take it forward," he said.
The Mehoopany Windfarm is the largest unit by capacity that's operated by BP. Situated in Tunkhannock, Pennsylvania, the facility boasts a nameplate capacity of 140.8 megawatts.
LS Power, for its part, will combine BP's assets with an operating portfolio of renewables and natural gas for a combined 21 GW of capacity, along with 780 miles of high-voltage transmission lines and another 350 miles under development.
Terms of the acquisition were not disclosed.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Project and Plant databases can learn more about BP's wind energy division in North America in a company profile, and click here for a company profile on LS Power Group.
The trajectory for U.S. wind energy is uncertain given President Donald Trump's preference for fossil fuels. He scrapped plans for offshore wind energy leases in one of his first acts of office, and lawmakers recently passed a measure that unwinds many incentives for renewable energy.
The Energy Information Administration (EIA), the statistical arm of the U.S. Department of Energy, expects wind to outpace solar power generation this year, though solar is expected to dominate during the summer months.
The EIA in its Short-Term Energy Outlook for July found wind accounted for about 45% of the renewable energy on the grid this year and capacity is on pace to increase by 4.7% next year, despite political obstacles.
BP, meanwhile, is on a divestment spree, with plans to shed as much as $4 billion from its portfolio yet this year. To date, it's completed $1.5 billion toward that goal.
In a guidance statement released July 11, BP said it expected oil and gas production to be higher than first-quarter levels, though it expects to see an impact in its gas and low-carbon business segment. The same holds for its oil division.
BP reported $982 million in profit on sales of about $48 billion in the first quarter, well below year-ago results of $2.5 billion on revenue of roughly $50 billion. British energy company Shell plc (London) last month shot down rumors that it was making a bid for rival BP, saying laws in the United Kingdom prevented it from making an offer.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
