BP Sells US Wind Portfolio In $20 Billion Divestment Push
The deal covers 10 wind farms across seven states with a total capacity of 1.3 gigawatts. This move is part of BP's $20 billion divestment plan, which aims to refocus capital allocation.
William Lin, executive vice president for gas and low carbon energy at BP, said the assets and workforce were strong, but the company concluded that 'we are no longer the best owners to take it forward.' He expressed confidence in LS Power's ability to scale the wind business while supporting bp's transitioning staff.
Also Read:
LS Power plans to integrate the wind projects into its clean energy portfolio, which already spans 21GW of power generation and extensive transmission infrastructure. Paul Segal, CEO of LS Power, described the acquisition as a strategic expansion to meet rising energy demand through well-contracted renewable assets.
The sale is expected to close by year-end, pending regulatory approvals. So far in 2025, BP has completed or signed $1.5 billion in divestments and aims to hit $3–4 billion by year-end, with further updates due in its second-quarter earnings report.
This decision follows BP's recent warning about a potential earnings dip tied to sliding oil prices, highlighting the company's pivot toward more resilient and efficient operations.
Investors may also consider the iShares Global Clean Energy ETF (NASDAQ:ICLN) and the First Trust Global Wind Energy ETF (NYSE:FAN) for broader exposure.
Price Action: At the last check on Friday, BP shares were trading higher by 0.31% to $32.19 premarket.
Read Next:Photo by Tada Images via Shutterstock
Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market.
Get the latest stock analysis from Benzinga?
BP (BP): Free Stock Analysis Report
This article BP Sells US Wind Portfolio In $20 Billion Divestment Push originally appeared on Benzinga.com
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Yahoo
19 minutes ago
- Yahoo
Alaska Air: Q2 Earnings Snapshot
SEATTLE (AP) — SEATTLE (AP) — Alaska Air Group Inc. (ALK) on Wednesday reported second-quarter net income of $172 million. On a per-share basis, the Seattle-based company said it had profit of $1.42. Earnings, adjusted for non-recurring costs, were $1.78 per share. The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share. The airline posted revenue of $3.7 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $3.66 billion. Alaska Air shares have declined 17% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $53.88, an increase of 42% in the last 12 months. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on ALK at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19 minutes ago
- Yahoo
Mattel Stock Falls On Sales Miss, Guidance Cut: Tariffs Hit Barbie
Toy company Mattel Inc (NASDAQ:MAT) reported second-quarter financial results after market close Wednesday. Here are the key highlights. What Happened: Mattel reported second-quarter net sales of $1.019 billion, down 6% year-over-year. The net sales missed a Street consensus estimate of $1.068 billion according to data from Benzinga Pro. The company reported earnings per share of 19 cents, beating a Street consensus estimate of 17 cents per share. "Our second quarter performance reflects operational excellence in the current macroeconomic environment as we continue to execute our strategy to grow Mattel's IP-driven toy business and expand our entertainment offering," Mattel CEO Ynon Kreiz said. The CEO said Mattel saw "meaningful gross margin expansion" in the quarter, international growth and advanced its entertainment slate. Here were the second quarter gross billings by category: Dolls: $335 million, -19% year-over-year Infant, Toddler and Preschool: $143 million, -25% year-over-year Vehicles: $407 million, +10% year-over-year Action Figures, Building Sets, Games, and Other: $264 million, +16% year-over-year The company highlighted growth in Action Figures and Hot Wheels in the quarter. View more earnings on MAT Of note was a call out that Barbie saw declines in the quarter, which comes as the well-known doll became the center of a talking point on tariffs and people not being able to afford as many dolls during the holidays. Read Also: What's Next: Mattel lowered its full-year guidance. The company expects full-year earnings per share to be in a range of $1.54 to $1.66, versus prior guidance of a range of $1.66 to $1.72. The company widened its full-year sales forecast with a new estimate of 1% to 3% year-over-year growth, versus a prior guidance of 2% to 3% growth. This puts the new sales guidance range at $5.434 billion to $5.541 billion, versus a prior range of $5.488 billion to $5.541 billion. The company said the guidance today is based on what it knows today, but is subject to "market volatility" and "further regulatory actions impacting global trade." MAT Price Action: Mattel stock is down 4.46% to $19.30 in after-hours trading Wednesday versus a 52-week trading range of $13.95 to $22.06. Read Next: • Photo: rblfmr via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? MATTEL (MAT): Free Stock Analysis Report This article Mattel Stock Falls On Sales Miss, Guidance Cut: Tariffs Hit Barbie originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19 minutes ago
- Yahoo
Catherine Rampell Becomes Latest Washington Post Writer to Exit Paper
The new MSNBC host says she accepted a buyout, adding to the growing list of staffers who have left following owner Jeff Bezos' revamp of the opinion section Another day, another Washington Post writer exiting the paper. This time it is columnist Catherine Rampell, who said on Wednesday she had accepted a buyout offer from the paper she has worked at for the last 11 years. Rampell has covered a number of topics for WaPo, including politics, economics and public policy. More from TheWrap Catherine Rampell Becomes Latest Washington Post Writer to Exit Paper Trump Appeared 'Multiple Times' in Epstein Documents, New WSJ Report Says Candace Owens Sued for Defamation by French First Lady Brigitte Macron Over 'Knowingly False' Claims She's Transgender 'Daily Show' Jokes Trump's Election Theft Claim Against Obama Is 'So Old Jeffrey Epstein Wouldn't Date It' | Video The 40-year-old writer has also been a frequent critic of President Trump, ripping the president on a number of topics, from his 'Liberation Day' tariff plan, which she called 'tariffmageddon,' to his 'Restoring Freedom of Speech and Ending Federal Censorship' executive order in January. She called the EO the 'start of an Orwellian effort to root out wrongthink from government ranks and the private sector.' Rampell's exit comes just a few months after she joined MSNBC as a co-host of 'The Weekend: Primetime,' and also follows WaPo owner Jeff Bezos' revamping of the paper's opinion section to focus on 'two key pillars': personal liberties and free markets. A number of prominent WaPo staffers left soon after, including opinion editor David Shipley, who resigned immediately. Columnist Ruth Marcus, who had been at the paper for 40 years, quit weeks later, after she said a column 'expressing concern' over Bezos' new direction for the opinion section was 'spiked.' More WaPo staffers have left recently, including columnist Jonathan Capehart, who accepted a buyout on Monday, as well as Dave Jorgenson, WaPo's 'TikTok Guy.' A person familiar with the newsroom told TheWrap on Monday it would not be surprising to see more people leave the paper this week, as it is offering buyouts to those who do not 'feel aligned' with the paper's 'reinvention' through the end of July. The post Catherine Rampell Becomes Latest Washington Post Writer to Exit Paper appeared first on TheWrap. Solve the daily Crossword