BP Dumping Wind Energy

The falsehood of being big is the feeling of invulnerability and yet, all energy is not created equal. The sideways understanding of oil and renewable energy are not one in the same. The sale of BP‘s renewable energy assets are more of sign of recouping funds than investing in the future.   The news that  ”BP to Sell U.S. Wind Business in Retreat to Fossil Fuels“  by Bloomberg. The disposition of 16 operating wind farms across nine states will signal a sign to investors of the instability of wind energy models.

Amy Grace, a New York-based analyst at New Energy Finance said, “BP owns about 1,600 megawatts of the 2,600 megawatts in operation, according to BP. Operating wind farms are worth $1.5 million to $2 million a megawatt, according to Bloomberg New Energy Finance data.  Investors are seeking long-term investments in commissioned wind assets with off-take agreements, and less than 300 megawatts of BP’s assets are without such agreements[LANDsds]