National Wind Watch: Wind Energy News Industrial Wind Energy/Wind Power News

October 29, 2013

BP notifies Public Service Commission of pending sale of Cape wind project

Filed under: New York — National Wind Watch @ 7:31 am

CAPE VINCENT – BP officially has notified the state Public Service Commission of its plan to sell off “in-development” wind assets, including the Cape Vincent Wind Project.

“BP Wind Energy is actively seeking to divest its entire development portfolio to potential buyers that have the strategy and resources to continue to develop these projects. The portfolio includes Cape Vincent Wind Power LLC and the Cape Vincent wind project, and we currently anticipate that the sale transactions will close by year-end,” project manager Richard Chandler wrote in a letter Friday to the PSC.

Mr. Chandler reiterated BP’s plan to “continue to advance the project” in the meantime.

“All decisions regarding the Article X Application and the filing thereof for the Cape Vincent wind project will be made by the new owner of the project. Similarly, formal stipulations will be finalized by the new owner of the project, although we continue to advance the project during the divestment process,” he wrote.

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Powered by WordPress