BP keeps wind power focus on US, sells assets in India
16 September 2009 17:00 [Source: ICIS news]
TORONTO (ICIS news)--BP has divested its wind power assets in India, valued at $95m (€65m), as it continues to focus on that part of its business in the US market, the UK-based international energy and chemicals major said on Wednesday.
Following a strategic review last year, BP decided to concentrate its global wind business in the ?xml:namespace>US where its wind power portfolio includes almost 100 projects, with a total potential capacity of up to 20,000 megawatts (MW), the company said.
The assets in India, with a combined capacity of 100 megawatts (MW) from three wind farms, were sold to Green Infra Limited, an independent power producer, it said.
The divestment would not impact BP’s other business in India, including its Tata BP Solar joint venture, a producer of photovoltaic power systems, it said.
Wind power represents a growing market for specialty chemicals and plastics, including epoxy resins and carbon fibres.
($1 = €0.68)
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