BP Calls Off Sale of US Wind Business

New Hampshire, USA — Four months after announcing it would put its U.S. wind business on the auction block, BP reportedly is calling off the prospective sale, saying that it has determined that the timing isn’t right — though the fate of that business remains undetermined.

After receiving an undisclosed number of bids, “the company has determined that now is not the right time to sell the business,” said Matt Hartwig, a spokesperson for BP America and its Alternative Energy business, in an e-mail exchange. He wouldn’t address details of the sale process, its participants, or the bids that BP received, which he characterized as “commercially sensitive.”

BP’s wind businesses here in the U.S. encompasses 2.6 gigawatts (GW) of generating capacity spread across 16 farms in operation across nine states (Texas, Indiana, Colorado, Kansas, California, South Dakota, Idaho, Hawaii, and Pennsylvania), with another ~2 GW of projects in development “nearly shovel-ready,” according to the company.

Written by James Montgomery. To read the full article, click here.

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