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Providing coverage of Alaska and northern Canada's oil and gas industry
August 2006

Vol. 11, No. 34 Week of August 20, 2006

BP buys U.S. wind power company

Petroleum News

BP Alternative Energy has purchased Greenlight Energy, a U.S. developer of wind power generation projects, for $98 million, excluding working capital and tax adjustments, BP said Aug. 15. BP said the acquisition would allow it to accelerate plans to develop a leading wind power business in North America.

Greenlight has a portfolio of 39 mature and early stage development projects with a potential power generating capacity of 6.5GW.

BP Alternative Energy owns all of BP’s interests in zero- and low-carbon power generation. BP anticipates investing up to $8 billion in alternative energy in the next decade.






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