London-based oil and gas producer BP sold three wind energy operations in Texas and says it will use the money to upgrade technology in its remaining U.S. wind operations. The price was not disclosed.
The three wind facilities include Silver Star with 60 megawatts of generating capacity and about 100 miles southwest of Fort Worth, Sherbino Mesa 2 with 145 megawatts in Pecos County about 40 miles west of Fort Stockton and Trinity Hills with 225 megawatts and about 50 miles southwest of Wichita Falls, TX, were bought by funds managed by affiliates of Los Angeles-based Ares Management Corp., a private equity firm.
Once the deal is done, BP will own interests in 11 wind farms in eight states, 10 of which it operates, with a net ownership of more than 1000 megawatts of wind power. It takes 1 megawatt to power about 200 homes on a hot summer day in Texas.
The sale leaves BP with one remaining wind energy site in Texas, Sherbino 1 which has a generating capacity of 150 megawatts, according to the company’s website.