BP is selling its onshore wind business in the US, which includes ten windfarms capable of powering over 500,000 homes, to LS Power. The transaction value is estimated at about $2 billion. This action is part of BP's strategy to divest $20 billion in assets and refocus on core oil and gas operations after a failed transition toward renewable energy. The decision follows an internal leadership shift concerning sustainability and follows increased pressure that has affected BP's share price significantly.
BP's plan involves selling off its onshore wind business and other assets worth $20 billion to streamline operations after their unsuccessful attempt at transitioning to a net-zero energy company.
Overall, the renewable energy landscape in the US has been pressured, particularly during the Trump presidency, impacting BP and its green initiatives significantly.
Collection
[
|
...
]