BP Alternative Energy announced today that it has purchased Greenlight Energy, a US-based developer of wind power generation projects. The purchase will allow BP to accelerate its plans to develop a leading wind power business in
BP has acquired all the shares of Greenlight Energy for a consideration of $98 million, excluding working capital and tax adjustments.
Greenlight is a developer of large-scale wind energy projects across the
The purchase will further accelerate the rapid growth of BP’s
In July, BP Alternative Energy announced it had reached agreement with the wind project developer and turbine manufacturer Clipper Windpower to acquire a 50 per cent stake in a 2GW wind development portfolio in the
“This purchase gives BP Alternative Energy immediate access to a large number of high quality wind development projects across the country, including a number of projects we expect to be able to develop over the next few years,” said Steve Westwell, chief executive of BP Alternative Energy.
This week wind power suffered a severe blow (no pun intended). The Scroby Sands offshore wind farm was quoted as only producing 28.9% of its predicted electricity.
At £57,000,000 and with 30 turbines it would seem that the alternatives have their sums wrong by a factor of three in the required cost and size of wind farms as viable energy sources.