BP Alternative Energy Acquires Wind Energy Co.

Orion Energy, LLC was recently acquired by BP Alternative Energy, a wholly owned subsidiary of BP established in 2005 to bring together BP’s low-carbon electricity businesses.

Orion Energy, which has developed approximately 1,300 megawatts (MW) of wind projects, has more than 30 active development projects in 16 states with a potential generating capacity exceeding 6,000 MW. “We have undertaken a rigorous process to find the right strategic partner for Orion,” said Michael Haas, President, Orion Energy. “We chose BP because of the company’s long-standing commitment to find practical solutions to climate change, its financial strength and proven ability to develop long-term energy projects.” With the acquisition of Orion Energy, BP’s North American wind portfolio includes an opportunity to develop almost 100 projects with potential total generating capacity of some 15,000 MW. Earlier this year BP announced a strategic alliance with Clipper Windpower, based in Carpinteria, California, to supply up to 4,250 MW of wind turbines over the next five years. “We are extremely pleased to bring Orion into BP Alternative Energy,” said Robert Lukefahr, President of BP Alternative Energy North America. “Orion Energy has a strong track record as one of the leading wind energy companies in the USA and the Orion development team is among the very best in the industry.” BP Alternative Energy includes BP’s wind power business, solar, hydrogen power with carbon capture and storage, and natural gas generation. The unit operates facilities in North America, Europe, Asia, Australia and Latin America.
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