LS Power, a leading developer of North American power and energy infrastructure projects, has announced an agreement to acquire several U.S. onshore wind farms from a UK-based energy group. The deal, which was made public on July 18, involves the acquisition of approximately 1,700 MW of operating onshore wind power generation capacity from 10 projects. LS Power, headquartered in New York, plans to add these assets to its existing portfolio of renewable, energy storage, flexible gas, and renewable fuels assets, which currently totals a 21,000-MW operating portfolio and over 780 miles of high-voltage transmission lines. Additionally, LS Power has over 350 miles of transmission infrastructure under construction or development.
The transaction is expected to be finalized by the end of 2025. Following the acquisition, bp Wind Energy North America will be owned and operated as part of LS Power portfolio company Clearlight Energy, which focuses on renewable power generation in the U.S. and Canada. This acquisition will increase Clearlight Energy’s operating fleet to approximately 4,300 MW and diversify its operations beyond wind, solar, and battery storage.
LS Power’s CEO, Paul Segal, expressed the company’s commitment to solving complex energy problems and improving the world through the development of a cleaner, more reliable, and affordable energy ecosystem. William Lin, bp EVP for gas & low carbon energy, emphasized the importance of rationalizing and optimizing their portfolio to generate value, leading to the decision to transfer ownership of the onshore U.S. wind business to LS Power.
The wind farms included in the deal are located in various states across the U.S., including Indiana, Kansas, South Dakota, Colorado, Pennsylvania, Hawaii, and Idaho, providing electricity for more than 15 off-takers. Some of the facilities included in the agreement are Fowler Ridge 1 in Indiana with 288 MW gross capacity, Flat Ridge 2 in Kansas with 470 MW gross capacity, and Mehoopany in Pennsylvania with 141 MW gross capacity.
Jeff Norman, CEO of Clearlight Energy, expressed excitement about welcoming bp Wind Energy to their family and working towards a cleaner future. LS Power is committed to advancing American energy infrastructure by improving existing assets and investing in transformative strategies to make energy more efficient, affordable, and available.
In conclusion, the acquisition of these U.S. onshore wind farms marks a significant step towards achieving a more sustainable energy future. LS Power’s dedication to innovation and sustainability, coupled with Clearlight Energy’s expertise in renewable power generation, will contribute to meeting the growing energy demand across the U.S. and accelerating the transition to a cleaner energy ecosystem.
