- Published: 24 December 2018 24 December 2018
BP has divested three wind energy operations in Texas as part of a broader restructuring designed to optimise its US wind portfolio for long-term growth.
The three wholly-owned BP wind facilities –Silver Star (60MW generating capacity), Sherbino Mesa 2 (145MW) and Trinity Hills (225 MW) -- were purchased by funds managed by affiliates of Ares Management Corporation. BP Wind Energy will use the proceeds from the deal to fund technology upgrades elsewhere within its remaining U.S. wind portfolio. Following the deal, BP will continue to own interests in 11 wind farms in eight states, 10 of which it operates, with a net ownership of more than 1000MW of wind power.