BP has announced that it has purchased Greenlight Energy, Inc., a US-based developer of wind power generation projects.
The purchase will allow BP to accelerate its plans to develop a leading wind power business in North America. BP has acquired all the shares of Greenlight Energy for a consideration of some US$ 98 million, excluding working capital and tax adjustments. Greenlight is a developer of large-scale wind energy projects across the USA. Founded in 2000 and based in Charlottesville, Virginia, the company has a portfolio of some 39 mature and early stage development projects across the USA with a potential total power generating capacity of 6.5GW. This portfolio contains a number of projects which BP expects to be able to develop over the next five years. In July, BP Alternative Energy announced it had reached agreement with the wind project developer and turbine manufacturer Clipper Windpower to acquire a 50 per cent stake in a 2GW wind development portfolio in the USA as well as an agreement for the supply of turbines with a generating capacity of up to 2.25GW over the next five years.