BP is to sell its US onshore wind energy business BP Wind Energy.
The oil major intends to sell the company as an integrated business, with its experienced workforce expected to transfer to the new owner on completion.
BP intends to launch the sale process shortly.
The unit has interests in ten operating assets across seven US states with a combined gross generating capacity of 1.7GW.
All wind assets are grid-connected, are already providing power to a range of offtakers and are operated from a base in Houston, the company said.
BP said it aims to bring together the development of onshore renewable power projects through Lightsource BP, the solar company it plans to take full ownership of.
On completion of this acquisition – anticipated before the end of the year, subject to regulatory approvals – BP intends to support Lightsource BP continued growth, it added.
The company will become a developer of cost-competitive, utility-scale renewable power assets worldwide for both solar and onshore wind.
William Lin, BP EVP for gas & low carbon energy, said: “Renewables are an important part of our strategy as bp transitions to an integrated energy company.
“BP Wind Energy’s assets are high-quality and grid-connected but are not aligned with our plans for growth in Lightsource BP.
“So we believe the business is likely to be of greater value for another owner. This planned divestment is part of our strategy of continuing to simplify our portfolio and focus on value.”