Clearlight Energy to Absorb Wind Power Assets
Following the transaction’s close, BP Wind Energy will become part of LS Power’s portfolio company, Clearlight Energy, boosting Clearlight’s total generation capacity to 4.3 gigawatts. The wind farms are already grid-connected and operational, offering LS Power immediate scale in the renewable market.
“This is a calculated expansion of our North American infrastructure portfolio,” a spokesperson for LS Power said.
The transaction, subject to regulatory approval, is expected to close by the end of the year.
Market Echoes: A Trend Among UK Energy Majors
BP’s deal mirrors a similar transaction earlier this year by National Grid PLC, which sold its onshore wind business in the U.S. to Brookfield Asset Management for $1.74 billion, involving 1.8 GW in operating assets and another 1.3 GW under development.
These moves suggest a strategic pivot among British energy giants, who are offloading capital-intensive renewable projects in favor of targeted investments and simplified structures.
