BP getting out of the wind power business

BP is planning to exit the wind power business and sell its wind farms, Bloomberg News reports.  BP, which got out of its solar business in 2011, says it wants to focus its efforts on its core of oil and gas businesses.

BP plans to dispose of interests in 16 operating wind farms in nine states with a total capacity of about 2,600 megawatts, Mark Salt, a London-based spokesman for BP, said in an e-mailed statement to Bloomberg. The company will also sell projects in various stages of development including 2,000 megawatts of wind poised to start construction, he said.

BP, which in the past had promoted a “Beyond Petroleum” public relations campaign emphasizing renewable and alternative sources of energy, is foocusing now on oil and natural gas following the 2010 oil spill in the Gulf of Mexico.

“BP has decided to market for sale our U.S. wind energy business as part of a continuing effort to become a more focused oil and gas company and re-position the company for sustainable growth into the future,” Salt said.

BP has invested more than $55 billion in U.S. energy development the last five years, according to the company. Any sale of the wind assets will be the subject to “attractive offers” being received, Salt said, according to Bloomberg. 

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