Rolling coverage of the latest economic and financial news
Energy news: BP has continued its push to pivot back to oil and gas, by agreeing a deal to sell its US onshore wind business to LS Power.
The wind business operates nine onshore wind energy assets across seven US states, and are grid-connected and are providing power to customers.
“We have been clear that while low carbon energy has a role to play in a simpler, more focused bp, we will continue to rationalize and optimize our portfolio to generate 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.
“We are executing our strategic plan at pace.
The divestment of Essential Home represents a significant step forward in unlocking the substantial value in our business.
Continue reading…Rolling coverage of the latest economic and financial newsEnergy news: BP has continued its push to pivot back to oil and gas, by agreeing a deal to sell its US onshore wind business to LS Power.The wind business operates nine onshore wind energy assets across seven US states, and are grid-connected and are providing power to customers.“We have been clear that while low carbon energy has a role to play in a simpler, more focused bp, we will continue to rationalize and optimize our portfolio to generate 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.“We are executing our strategic plan at pace.The divestment of Essential Home represents a significant step forward in unlocking the substantial value in our business. Continue reading…
