BP to sell US onshore wind business to LS Power
BP has been divesting assets and partnerships over increasing investor pressure to improve profitability after its shares underperformed rivals.
The deal comes under CEO Murray Auchincloss' plans to cut BP's investments in renewable energy and ramp up spending in oil and gas, in efforts to boost returns.
bp Wind Energy will be owned and operated under LS Power's portfolio company Clearlight Energy, BP said.
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