BP Plans to Focus on US Wind Market

BP Alternative Energy said last week that it plans to focus its future wind developments in the U.S. only and is looking to pull out of projects in China with Goldwind, Turkey and two projects in India with Suzlon.

The company’s U.S. wind plans include installing a cumulative 1 gigawatt (GW) of wind energy capacity by the end of this year and a total of 3 GW potentially by the end of 2010. Based on an assessment that more attractive returns on wind investment are to be had in the U.S., Robert Wine, spokesman for BP, said that the decision to move into only the U.S. wind market was made by the company a month ago.

This announcement follows news from earlier in the year that Shell also plans to refocus its wind energy plans on the U.S. market where the the company expects the return on its investments to come sooner than other projects in other countries.

While BP’s wind plans will be confined for the time being the to U.S. market, the company said that it will move forward with its UK biofuels plans. The plans include developing a US $400 million ethanol plant, which is scheduled to start production in 2010.

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