LS Power will add these assets to its existing fleet of renewable, energy storage, flexible gas and renewable fuels assets comprising a 21,000 MW operating portfolio and more than 780 miles of high-voltage transmission lines in operation, as well as another 350+ miles currently under construction or development.
Upon completion of the acquisition, bp Wind Energy will be owned and operated as part of LS Power portfolio company Clearlight Energy, which focuses on renewable power generation in the US and Canada. The acquisition will increase Clearlight Energy’s operating fleet to ~4,300 MW and further diversify its operations beyond its existing wind, solar, and battery storage fleet.
“LS Power’s mission is to solve complex energy problems to improve the world and make lives better by developing a cleaner, more reliable, and affordable energy ecosystem, and today’s announcement represents a material investment in reaching that goal,” said Paul Segal, Chief Executive Officer of LS Power.
“As an integrated business, bp Wind Energy is a natural addition to Clearlight Energy’s growing portfolio of scalable solutions that will broaden our reach geographically and supports our strategy to make energy more efficient, affordable and available.”
The bp Assets, which span Indiana, Kansas, South Dakota, Colorado, Pennsylvania, Hawaii and Idaho, are already providing power to over 15 off-takers and consist of:
“We are excited to welcome bp Wind Energy to the Clearlight Energy family as we work to execute on a long-term value creation and growth strategy that will help accelerate the transition to a cleaner future,” said Jeff Norman, Chief Executive Officer of Clearlight Energy.
“As part of an organization entirely focused on natural energy solutions, bp Wind Energy will have the resources it needs to reach its full potential while our talented, complementary teams will benefit from our enhanced set of collective capabilities and expertise.”
The transaction is expected to close by the end of 2025, subject to regulatory approvals.
