Clipper Windpower and BP Alternative Energy have entered into a strategic alliance for a long-term turbine supply agreement and the joint development of five of Clipper’s wind energy projects in the
The five wind projects, with an anticipated total generating capacity of 2,015MW, are located in
The Clipper/BP Alternative Energy joint development portfolio will be developed over a five-year period. Each project will deploy Clipper’s
As part of the long-term turbine supply agreement, BP Alternative Energy has committed to the purchase of 100MW of
In recognition of the long-term strategic relationship between Clipper Windpower and BP Alternative Energy, BP has acquired a five-year share option for a 10% equity interest at £3.77 per share in Clipper Windpower, subject to final approval of the Clipper Shareholders.
Steve Westwell, CEO of BP Alternative Energy, commented: “We believe the Clipper turbine is a break-through in reducing the total cost of renewable energy and we are pleased to be the first large customer for this innovative technology. Our strategic relationship with Clipper represents an important step in expanding BP’s low-carbon power business.”