LS Power to acquire BP’s onshore wind business in US
LS Power has entered a definitive agreement to acquire BP’s onshore wind business in the US, BP Wind Energy North America.
The acquisition will strengthen LS Power’s renewable energy portfolio by adding 1,700MW gross or 1,300MW net ownership of operating onshore wind capacity across ten assets.
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These assets will be integrated into LS Power’s current fleet that includes renewable, energy storage, flexible gas and renewable fuels assets.
LS Power has an operating portfolio of 21GW and more than 780 miles of high-voltage transmission lines in operation, in addition to more than 350 miles under construction or development.
Upon completion of the acquisition, BP Wind Energy will be owned and operated as part of Clearlight Energy, LS Power’s portfolio company that specialises in renewable power generation across the US and Canada.
The deal will expand Clearlight Energy’s operating fleet to 4.3GW while diversifying its operations beyond its current mix of wind, solar and battery storage capabilities.
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By GlobalDataLS Power CEO Paul Segal stated: “LS Power’s mission is to solve complex energy problems to improve the world and make lives better by developing a cleaner, more reliable and affordable energy ecosystem, and today’s announcement represents a material investment in reaching that goal.
“As an integrated business, bp Wind Energy is a natural addition to Clearlight Energy’s growing portfolio of scaleable solutions that will broaden our reach geographically and support our strategy to make energy more efficient, affordable and available.”
The acquired assets, spanning Colorado, Hawaii, Idaho, Indiana, Kansas, Pennsylvania and South Dakota, currently supply power to more than 15 off-takers.
The transaction is anticipated to close by the end of 2025, pending regulatory approvals.
Greenberg Traurig acted as legal advisor while Barclays and Santander provided financial advisory services for LS Power for the transaction.
BP gas and low carbon energy EVP William Lin stated: “We have been clear that while low carbon energy has a role to play in a simpler, more focused BP, we will continue to rationalise and optimise our portfolio to generate value.
“The onshore US wind business has great assets and fantastic people, but we have concluded we are no longer the best owners to take it forward. I am pleased we have reached a mutually beneficial deal with LS Power, and I look forward to working with them to support our people in maintaining safe and reliable operations as we transition ownership.”
In May 2025, NRG Energy finalised a definitive agreement to acquire the natural gas generation facilities owned by LS Power Equity Advisors in a $12bn deal.
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