Orrick represented bp, a global integrated energy company, in negotiating an agreement to sell bp’s U.S. onshore wind energy business, BP Wind Energy North America Inc., to LS Power, a leading development, investment and operating company focused on the North American power and energy infrastructure sector.
THE IMPACT
bp Wind Energy has been marketed as an integrated business, with its experienced workforce expected to transfer to the new owner on completion of the deal. The business has interests in 10 operating onshore wind energy assets across seven U.S. states, operating nine of them. The assets have a combined gross generating capacity of 1.7GW (1.3GW net to bp). All wind assets are grid-connected and are already providing power to over 15 off-takers.
The deal is part of bp’s focusing of its low carbon energy portfolio, prioritizing investment choices whilst delivering value for shareholders.
THE TEAM
Orrick’s Bradford Gathright, Joe Lawlor and Mason Harry led the team that advised bp. The team also included Michael Vance, Rebekah Morgan Gryder, Arden Dion, Renee Serota, Alexa Steranko, John Narducci, Mark Christy, Chelsea Munoz-Patchen, Jason D. Flaherty, Keith A. Tidwell, Bart Kempf, Zachary D.T. Huey, A. Cory Lankford, Kayla Grant, Jared Joyce-Schleimer, John Azzopardi, Darrell Thomas, Shannon Yavorsky, Carly Owens, Daniel Yost, Jeanine McGuinness, Cacique Rich-Martinez, Calvin Vaughan, Conor Mannix, Eric Newman, Richard Wells, Christopher R. Giles, Melissa Hall, Benjamin Schnier, Sarafina Joseph, Austin Himes, Jessy Parker, Alexis Smith, Millay Kogan and Johnathon Mann.
