bp has agreed to sell its U.S. onshore wind business to LS Power, continuing its broader effort to streamline operations and concentrate on areas where it sees the strongest growth and return potential. William Lin, Executive Vice President for Gas & Low Carbon Energy at bp, commented on the move “We’ve been transparent about our intent to simplify our portfolio and focus on the areas where we are best positioned to lead. While our U.S. wind business includes high-quality projects and skilled teams, we believe LS Power is better placed to take these assets forward. This agreement supports that shift, and we’ll work closely with LS Power to ensure a safe and smooth handover for our people and operations.”
The acquisition will expand LS Power’s renewables footprint, adding to its existing portfolio, which includes 21 gigawatts of energy projects in operation across renewables, energy storage, flexible natural gas generation, and renewable fuels. LS Power also owns and operates more than 780 miles of high-voltage transmission lines, with over 350 additional miles currently being developed.
Paul Segal, CEO of LS Power, said “Our goal is to modernize and strengthen the U.S. energy system by building and optimizing a broad range of assets. These wind facilities are well-positioned and supported by solid contracts, making them a strong addition to our platform. We’re eager to welcome the teams behind these projects and continue developing solutions to meet rising energy demand.”
The sale is part of bp’s plan to divest $20 billion in assets as it narrows its strategic focus. As of the first quarter of 2025, bp had signed or completed about $1.5 billion in divestments, with updated full-year guidance set at $3–4 billion. Additional updates will be shared in the company’s second-quarter earnings report.
Founded in 1990, LS Power is an investor and operator in North American energy infrastructure. The firm has developed or acquired around 50,000 megawatts of power generation, spanning wind, solar, hydro, battery storage, and natural gas. In addition to its generation business, LS Power builds and operates transmission systems and invests in emerging energy solutions such as EV charging, microgrids, and waste-to-energy platforms. To date, the company has raised more than $70 billion to fund infrastructure projects across the continent.
