Overview

• The deal transfers BP Wind Energy North America’s 10 operating onshore wind farms across seven states to U.S. infrastructure firm LS Power
• Industry sources value the portfolio at about $2 billion, forming part of BP’s $20 billion divestment plan with $3 billion to $4 billion targeted in 2025
• BP confirmed it has already sold $1.5 billion in assets by the end of Q1 as it accelerates its strategic reset toward core oil and gas operations
• The sale boosted BP shares by roughly 2% in morning trading as investors reacted positively to the narrowed focus and improved capital allocation
• LS Power plans to fold the acquired wind projects into its 21 GW Clearlight Energy portfolio to expand its clean energy footprint