BP cancels sale of U.S. wind business

BP cancels sale of US wind business BP Alternative Energy North America

After an April announcement that it would look to sell its interests in 16 wind farms in the U.S., BP is no longer looking to sell its U.S. wind power portfolio, according to a report from SNL Financial.

“Despite receiving a number of bids, the company has determined that now is not the right time to sell the business,” BP spokesman Matt Hartwig told SNL in an email. “Our focus will remain on safely maximizing the financial and operational performance of the existing assets.”

BP subsidiary BP Alternative Energy North America Inc. had previously said it was marketing its wind portfolio in order to focus on its oil and gas holdings, according to the report.

After the announcement, the U.S. Department of the Interior approved the Mohave County Wind Farm, an Arizona wind power project proposed by BP Wind Energy North America with a capacity of up to 500 MW.

Read more wind energy news

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...