LS Power has completed the acquisition of BP’s (bp) US onshore wind business, BP Wind Energy North America, significantly expanding its renewable energy portfolio.
The deal adds approximately 1.3GW of net ownership in operating onshore wind across ten projects, further diversifying the company’s assets in flexible natural gas, energy storage, and renewable fuels.
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With this transaction, LS Power will operate over 22.3GW of generation capacity in the US, alongside around 780 miles of high-voltage transmission lines.
The ten acquired projects are situated across Indiana, South Dakota, Hawaii, Pennsylvania, Kansas, Colorado, and Idaho.
LS Power will integrate the acquired company into Clearlight Energy, one of its renewable generation platforms serving the US and Canada.
Clearlight Energy currently oversees approximately 4.3GW of wind, solar, and battery storage assets, reinforcing its role as an independent renewable operator in North America.
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By GlobalDataLS Power CEO Paul Segal said: “Completing this acquisition reflects our ability to identify and execute on opportunities that address today’s most pressing energy challenges. With electricity demand surging and new development timelines extending, operating assets that can deliver clean, reliable power at meaningful scale are increasingly critical.
“We’re taking a ‘more of everything’ approach, pursuing opportunities across the energy landscape that help meet growing energy demand and position our renewable platforms for long-term growth.”
The transaction was finalised after meeting customary closing conditions, including regulatory approvals.
Greenberg Traurig acted as legal advisor while Barclays and Santander acted as financial advisors to LS Power on the acquisition.
In August 2024, LS Power agreed to acquire the renewable energy business from Algonquin Power & Utilities.
