BP to sell its U.S. onshore wind business

 BP said on Monday it plans to sell its U.S. onshore wind energy business, which has interests in ten operating onshore wind energy assets across seven states.

The company intends to integrate onshore renewable power development into Lightsource BP, Europe's largest solar energy developer, which BP plans to fully acquire.

BP said it will launch the sale process for its wind assets shortly.

Several offshore wind companies have cancelled or sought to renegotiate power contracts for planned U.S. projects in the past year, citing soaring materials costs, high interest rates, and supply chain disruptions.

Last month, Danish renewable energy group Orsted reported 3.9 billion Danish crowns ($581.59 million) in impairment losses for the second quarter, partly due to delays in a major U.S. offshore wind project.

https://www.zawya.com/en/business/energy/bp-to-sell-its-us-onshore-wind-business-nnm6tjgt