BP Alternative Energy buys Greenlight Energy

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BP has purchased Greenlight Energy, a US-based developer of wind power generation projects, for $98 million, excluding working capital and tax adjustments.

announced today that it has purchased

, 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 USA. Founded in 2000 and based in Charlottesville, Virginia, the company has a portfolio of 39 mature and early stage development projects across the USA with a potential total power generating capacity of 6.5GW. This portfolio contains a number of projects which BP expects to be able to develop over the next five years.

The purchase will further accelerate the rapid growth of BP's US wind power business, a key part of BP Alternative Energy, the company's low-carbon power generation business.

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