LS Power is acquiring BP’s onshore wind business in the US, adding 1,700MW gross or 1,300MW net ownership of operating onshore wind capacity across ten assets. The deal will integrate these assets into LS Power’s existing renewable energy portfolio, expanding Clearlight Energy’s operating fleet to 4.3GW. The transaction is expected to close by the end of 2025, pending regulatory approvals.

LS Power CEO Paul Segal emphasized the company’s mission to develop a cleaner, more reliable, and affordable energy ecosystem through this acquisition. The acquired assets currently supply power to over 15 off-takers across seven states, and the transaction is part of LS Power’s strategy to make energy more efficient and available.

BP Wind Energy North America will be owned and operated as part of Clearlight Energy, LS Power’s portfolio company specializing in renewable power generation. The acquisition will diversify Clearlight Energy’s operations beyond wind, solar, and battery storage capabilities, broadening its geographic reach and supporting a cleaner energy ecosystem.

BP has decided to divest its onshore US wind business to optimize its portfolio and generate value. EVP William Lin expressed confidence in LS Power as the new owner and looks forward to a smooth transition while maintaining safe and reliable operations. The transaction reflects BP’s commitment to simplifying its focus on low-carbon energy.

NRG Energy recently finalized a definitive agreement to acquire natural gas generation facilities owned by LS Power Equity Advisors in a $12bn deal. This acquisition adds to NRG Energy’s portfolio of power generation assets and demonstrates continued growth in the energy sector.

Read more at Yahoo Finance: LS Power to acquire BP’s onshore wind business in US