BP Sells US Onshore Wind Assets to LS Power, Completes $20bn Divestment Program

BP has sold its US onshore wind business, BP Wind Energy North America, to LS Power. The sale includes 10 onshore wind assets in seven US states with a combined gross production capacity of 1.7 GW. The transaction is expected to be completed by the end of the year and is part of BP's $20bn divestment program.

In a significant move to streamline its portfolio, BP Plc has agreed to sell its U.S. onshore wind business, bp Wind Energy North America, to LS Power. The transaction, which includes 10 onshore wind assets located across seven U.S. states, is expected to be completed by the end of the year. These assets have a combined gross generating capacity of 1.7 gigawatts (GW) [1].

The sale is part of BP's broader $20 billion divestment program, aimed at refocusing the company's core business on oil and gas production. BP's Chief Executive Officer, Murray Auchincloss, is leading this strategic shift to address years of underperformance in the company's shares and to meet the demands of activist investors like Elliott Investment Management [2].

Executive Vice President William Lin stated, "While low carbon energy has a role to play in a simpler, more focused BP, we have concluded that we are no longer the best owners to take this business forward." The transaction underscores BP's commitment to optimizing its portfolio and generating value through strategic divestments [2].

The acquisition by LS Power, a closely held North American energy developer, investor, and operator, is expected to enhance the buyer's renewable energy portfolio. LS Power will own and operate the assets under its Clearlight Energy portfolio company. The sale price was not disclosed, but BP has indicated that it will provide an update on the divestment proceeds in its second-quarter results, expected early next month.

This strategic move by BP is a pivotal step in its ongoing efforts to pivot back toward its core oil and gas business. The company aims to demonstrate progress on its turnaround plan, which was announced in February, by generating value through asset sales and increasing oil and gas production [2].

References:
[1] https://www.reuters.com/business/energy/bp-sells-us-onshore-wind-business-ls-power-2025-07-18/
[2] https://www.bloomberg.com/news/articles/2025-07-18/bp-agrees-to-sell-us-onshore-wind-business-to-ls-power