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.