bp to Sell US Onshore Wind Business to LS Power as Part of $20 Billion Divestment Drive

bp, a British multinational oil and gas company headquartered in London, has agreed to sell its US onshore wind energy business - bp Wind Energy North America Inc. - to LS Power, a firm engaged in North American energy infrastructure development and operations.

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The transaction will integrate the wind business into Clearlight Energy, an LS Power portfolio company, expanding its operating renewable fleet to approximately 4.3 GW.

bp Wind Energy operates and holds interests in 10 onshore wind assets across seven US states, nine of which it currently manages. These assets collectively generate 1.7 GW of gross capacity, 1.3 GW net to bp, and are grid-connected, supplying electricity to over 15 off-takers nationwide.

bp confirmed that the business has been marketed as a fully integrated entity, with its experienced workforce expected to transition to LS Power upon deal completion.

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$20 Bn Divestment Programme

The divestment aligns with bp’s ongoing effort to rationalize and optimize its low-carbon portfolio, as part of a broader USD 20 billion divestment programme aimed at simplifying its operations and delivering long-term shareholder 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,” said William Lin, EVP for Gas & Low Carbon Energy at bp. “I’m pleased we’ve reached a mutually beneficial deal with LS Power and look forward to supporting a smooth transition.”

bp had already updated its 2025 divestment guidance to USD 3-4 billion, with USD 1.5 billion signed or completed by the end of Q1 2025.

LS Power Renewables Footprint

LS Power, which manages 21 GW of energy assets and more than 780 miles of transmission infrastructure, sees the acquisition as a key step in broadening its renewable energy platform.

“These new wind assets are well-structured and well-located, allowing us to expand our renewable footprint while meeting growing demand across the US,” said Paul Segal, CEO of LS Power. “We look forward to welcoming bp’s talented wind teams and unlocking long-term value.”

The transaction is expected to close by the end of 2025, subject to regulatory approvals.