BP sale of U.S. wind assets sets stage for next divestments

Likely discount price will be closely watched by potential buyers

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BP’s Fowler Ridge 1 wind farm in northwest Indiana. Photo: bp Wind Energy.

The question hanging over the sale of BP’s U.S. wind power assets late last week was never really who but how much.

The 10 wind power projects in seven states were always going to be an attractive package for some renewable energy company, even with the White House’s current antipathy toward wind power. LS Power of New York will use the assets to diversify its suite of renewable businesses in the U.S. and Canada, no doubt.

But at what discount to the $2 billion valuation estimate did LS Power score the assets will be the chief question hanging over BP BP 0.00%↑ investors and other potential renewable buyers as the company seeks to sell another $18 billion in assets, including $2 billion to $3 billion more this year.