BP Sells US Wind Business to LS Power

BP has agreed to sell its entire US onshore wind energy business, including 10 wind farms across seven states with a combined capacity of up to 1.7 gigawatts, to LS Power as part of a $20 billion divestment strategy. The deal, expected to close by year-end pending regulatory approval, reflects BP’s pivot back toward core oil and gas operations amid shareholder pressure and concerns about returns. The sale occurs as former President Donald Trump announces new federal approvals for wind and solar projects, aiming to reverse Biden-era clean energy policies. LS Power plans to further expand its renewables portfolio with these assets. BP is also scaling back its carbon reduction targets and has warned of potential earnings declines due to lower oil prices. Following the announcement, BP shares rose modestly, indicating a positive investor response.