BP sells onshore wind farm business in US
The FTSE 100 oil company said LS Power would buy the business, called BP Wind Energy North America, which includes 10 operating wind farms across America.
BP said green energy still has a 'role to play' in the slimmed-down group as the deal marks the latest in a series of asset sales.
BP did not disclose how much the sale was worth, but said it was part of its aims to offload between 3 billion and 4 billion US dollars (£2.2 billion to £3 billion) worth of assets in 2025, under a wider 20 billion dollar (£14.9 billion) target.It confirmed that before the deal, it had already struck sales worth 1.5 billion dollars (£1.1 billion) by the end of the first quarter.
William Lin, BP's executive vice-president for gas and low carbon energy, said: 'We have been clear that while low carbon energy has a role to play in a simpler, more focused BP, we will continue to rationalise and optimise our portfolio to generate value.
'The onshore US wind business has great assets and fantastic people, but we have concluded we are no longer the best owners to take it forward.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Mail
41 minutes ago
- Daily Mail
Craft breweries outrage parents by BANNING children...as owners reveal families' most entitled behavior
In many communities across the US, breweries have become a sort of a 'third-space' for locals and their families. The current status quo is the natural progression of the craft beer craze of the 2010s, as many of its enthusiasts age into parenthood. And while many breweries continue to welcome children, a growing number say they have been forced to ban kids due to their rowdy behavior. The decision has sparked outrage among busy parents, who say child-friendly policies allow them to continue to enjoy some of the same activities as during their kid-free days. But owners say their breweries have become chaotic spaces, with waiters forced to become babysitters and safety a bigger concern than it was ever supposed to be. As a result, many have decided to limit when and where children can visit their establishments and sometimes if they can visit them at all. Forest City Brewery in Cleveland, Ohio has decided to ban children under the age of 16 altogether, prompting an outcry from some of its patrons. The founder, Jay Demagall, told the New York Times that egregious behavior motivated the decision, detailing some of the worst examples. This included instances of staff practically running over toddlers who were racing around the garden, children climbing trees as their parents encouraged them, throwing rocks, and even one situation where the parent of a potty-training toddler pulled out a travel toilet to use in front of other patrons. 'Simply put, we are a brewery. Our business is to serve great beer, food, and other alcoholic beverages to ADULTS,' Demagall explained in a statement. 'Quite frankly, kids were never a part of our business plan or vibe. Our staff are not equipped to monitor or babysit kids whose parents treat the brewery like a playground.' Upset parents quickly took to the comment section to condemn the brewery for their decision. One commenter said: 'This is really disappointing - kids and parents deserve to be in community spaces.' Another noted: 'There are already so few eating and drinking establishments in Cleveland to go to with our son … Huge bummer that now there's one less place for us to go (and spend our money).' But the brewery is not alone in its concerns. Proclamation Ale Company in Warwick, Rhode Island had similar issues with families at their business in September 2024. They posted a gentle reminder to parents on their Facebook page encouraging them to watch over their kids while enjoying the brewery. 'Look, we love your kids, but sometimes they can be, well… kids,' they wrote. 'This is your gentle reminder that when you bring yours to the taproom, our staff and our games are not meant to be their babysitters. 'We ask that you supervise and be near your kids at all times and do not allow them to run around the taproom or yell loudly. Our staff shouldn't need to search the entire taproom to figure out where someone's parent is.' The post detailed children slamming arcade games, throwing shuffleboard pucks, and causing disturbances all throughout the premises. But in their comment section, locals condemned parents for bringing kids to breweries at all, one of them even saying if parents can afford alcohol, they can afford babysitters. A patron said: 'If someone brought their kid to a bar, someone would call children services. Not sure how this is any different.' In Norton, Massachusetts, bar owners described children throwing rocks and climbing on top of their picnic tables without any intervention from the parents. Brian Shurtleff, the owner of Bog Iron Brewing told CBS: 'We're trying to be kind of the neighborhood's living room here. We want people to be able to come in and relax and hang out and meet friends, families as well.' But he said the unhinged behavior of children and families 'got to be too much'. The chaos caused the brewery to post new guidelines for families that wish to visit with their children. Clearly throughout the restaurant and even printed on the menus, they remind families that children must remain seated at the table with their parents at all times. In Township, New Jersey one parent complained to the owners of Icarus Brewing when their toddler wandered under outdoor fencing and into the parking lot. Incidents like that one are what caused the company to implement hours strictly for adults 21 and over on Thursdays, Fridays, and Saturdays. They also designated the lounge area and mezzanine for adults only. 'All I could think was: We didn't build Guantánamo, we built a beer garden,' owner Jason Goldstein told The New York Times. 'And if your child crawled under there, how long were they away from you? How long were you not paying attention? I don't think this is our issue.' In an Instagram post in September, the Icarus Brewing reminded patrons of their family policies. They listed that children must be supervised at all times, running was strictly prohibited, and climbing or standing on furniture, games, or fences was not permitted. They have also banned balls and sports equipment of any kind, throwing rocks, and walking on the landscaping. 'Please supervise your little ones and keep them close to ensure their safety and the comfort of all guests,' they wrote. 'To maintain a welcoming atmosphere for all, we kindly ask that everyone adheres to our safety guidelines.' The decision has split patrons down the middle, with some lamenting the policy and others singing its praises. For mom Aurore Stanek-Griffiths out breweries' no-kids policies simply 'discriminate' against families. 'If I tell you I run a business and during certain hours people over age 50 aren't allowed, you would be like, "Why?!",' she said. Mike Zoller, the owner of a Chicago Beer Instagram account also expressed his disappointment to The New York Times. He said that most millennials became fans of the beer scene during the 2010s and have continued to enjoy it with their families, and they're entitled to maintaining that. 'Ten years later, a lot of us have families, and we still like going to breweries,' he said, 'Breweries are not bars. They're community gathering spaces now. They're neighborhood third spaces.' But Massachusetts mom and owner of the site Central Mass Moms, Annie O'Malley told Telegram and Gazette that she completely understands breweries that want to restrict kids. 'The breweries make these policies because of the few outliers that come and cause safety concerns or who're too rowdy and disruptive,' she said. 'If your kids were behaving already then these policies shouldn't be massively disruptive to your life.' But people that have made brewery outings a family even should fear not. Breweries like Timberland Brewing Company in East Brookfield, Massachusetts are standing firm in their kid-friendly policies. 'We have always been a family friendly space families are a big part of our customer base,' Owner Matt Zarif told the Telegram and Gazette 'I live in a house on the property here with my wife and three boys, ages 5, 9, and 11, so you'll often find them visiting me and helping out around the brewery.' Zarif agreed that kids can occasionally be a nuisance to restaurant guests, but he chose not to focus on the bad apples. 'It can certainly be frustrating when kids are disruptive or negatively affecting the experience of other guests.
Daily Mail
2 hours ago
- Daily Mail
Costco unveils new perk for members
An unexpected new perk at some Costco stores has left shoppers divided. Executive membership holders have found themselves having first dibs on free samples as the result of a new policy which allows them into the store an hour earlier than other customers. A TikToker posted a video of a sample station at a store open for executive members at 9am , an hour before Costco opens stores for all members. The station featured on the clip included fresh croissants and strawberry jam. Another user also shared a video of a pastry-stocked sample station for early executive members at 9am at her local store. Reddit users claimed employees typically began offering free samples in the late mornings or early afternoons before the new rule came in. While some users were frustrated over the early offerings, others were excited, and a few reminded commenters that samples are available for all Costco shoppers. A couple of people also said they were considering purchasing an executive membership, which starts at $130 a year. Costco's executive members have had the opportunity to take advantage of multiple new benefits this year. They've had the opportunity to receive $10 monthly credit towards delivery orders made on Costco Same-Day or Costco via Instacart since June. The monthly credit offer is available for all executive members in the US and Canada who spend $150 or more on an order. Other benefits executive members can enjoy include exclusive discounts, pet insurance, and additional value within the Costco Auto Program. Around half of Costco shoppers have executive level memberships and account for 73 percent of sales. Shoppers who aren't interested in going the executive route can always purchase a regular Gold Star membership for $65 a year. Unlike other perks, all 50 plus million members around the US and Canada have been able to enjoy extended gas station hours . The chain earned $61.96 billion during its 36-week third quarter period, which ended on May 11. Its net sales were an 8 percent increase from last year's third quarter. It comes after customers were not thrilled to learn of plans to drop Pepsi beverages in Costco food halls throughout the US. Some shoppers have also claimed Costco has quietly raised food court prices in recent months, which the company has yet to confirm is true. has reached out to Costco for comment.
Daily Mail
2 hours ago
- Daily Mail
Warning issued to homeowners as sales plummet
A leading economist has issued a 'red flare' warning for the housing market and cautioned that it could drag down the entire economy. 'I sent off a yellow flare on the housing market in a post a couple of weeks ago, but I now think a red flare is more appropriate,' Moody's Chief Economist Mark Zandi wrote on X this week. A 'red flare' warning suggests the market is experiencing major instability and a fall is imminent. It comes as construction of new homes has slowed and sellers are being forced to reduce their prices or pull their homes off the market entirely. 'Home sales are already uber depressed,' Zandi (pictured) wrote, adding that the housing market could become an issue for the wider economy. 'Housing will thus soon be a full-blown headwind to broader economic growth, adding to the growing list of reasons to be worried about the economy's prospects later this year and early next,' he wrote. If the housing markets woes do tip into the wider economy it could increase recession fears in the coming months, Zandi warned. Zandi's biggest concern is persistently high mortgage rates, currently around 7 percent, which are making buying too expensive for many Americans. High rates have also locked in homeowners who have cheaper deals and cannot afford to move and refinance. 'Home sales, homebuilding, and even house prices are set to slump unless mortgage rates decline materially from their current near 7 percent soon,' Zandi wrote. Sales of new homes dropped 13.7 percent in May compared to the month before, according to Census Bureau data. Zandi said further pressure is being piled on the housing market because homebuilders are simply 'giving up' on rate buydowns - providing a lump sum up front to reduce a buyer's mortgage rate and therefore their monthly payments - as they are now 'too expensive.' The economist also pointed out that many builders are putting off making land purchases for future developments. 'New home sales, starts, and completions will soon fall' as a result, he predicted. It comes as frustrated home sellers are pulling their homes off the market because they can't get the prices they want. A softer housing market has seen delistings surge 47 percent across the country in May compared to the same time last year. Others have been forced to slash their asking prices and accept a more reasonable offer in the current uncertain market. More than 20 percent of listed homes had price reductions in June, the highest share for the month since 2016. While the price of homes across the US continues to move up, the rate at which they are climbing has slowed considerably. May saw price growth at below 2 percent for the first time in over 13 years, according to the report. 'This is a drop compared to earlier this year when home prices were growing at above 3 percent, interest rates were slipping and the forecast for the market was stronger - even while inventory remained low,' Selma Hepp previously told the Daily Mail.
