BP Considers Selling Small Stake in Its Offshore Wind Business

BP is considering a potential sale of a minority stake in its offshore wind business in a move to reduce spending on project developments in the sector, anonymous sources have told Reuters. Currently, BP doesn’t operate offshore wind farms, but it had a pipeline of offshore wind developments worth 9.6 gigawatts GW as of June this year.

Last month, the company said it would sell its onshore wind business in the United States and aims to bring together the development of onshore renewable power projects through Lightsource bp. BP Wind Energy has interests in 10 operating onshore wind energy assets across seven U.S. states with net generating capacity totaling 1.3 GW.

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