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Investing.com -- BP Plc (LON:BP) has agreed to sell its US onshore wind business to LS Power as part of its strategy to refocus on core oil and gas operations and improve share performance.
Share of BP rose above 1% after the news.
The financial terms of the deal were not disclosed.
BP said it will provide details about divestment proceeds when it releases its second-quarter results in early August.
The assets being sold include 10 operating onshore wind facilities spread across seven US states, with a combined gross generating capacity of 1.7 gigawatts.
This sale aligns with BP’s efforts to address years of share underperformance by returning to its traditional oil and gas business focus.
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