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BP to Concentrate on Wind in U.S., as it Pulls Out of Partnership With China's Goldwind

November 7, 2008
Source: New Energy Finance

Oil giant BP has confirmed that it has decided to focus all its attention in wind on its US onshore business, following news from China that it has pulled out of a project partnership with turbine maker Goldwind.

A spokesperson for BP told New Energy Finance: "We have decided to focus our investment on onshore wind assets in the US, where we have been extremely successful and have built up a portfolio that, if fully developed, could amount to as much as 15GW.

"We will not be pursuing opportunities in wind outside the US, and if we have ongoing ventures in other countries, we will review them." He stressed that the move did not represent a change in BP's level of investment in wind "at all".

In China, Goldwind's investment arm Beijing Tianrun New Energy signed an agreement in January 2008 for BP to purchase a 49% stake in the 148.5MW Damao wind farm project located near Bayan Obo in China's Inner Mongolia Province.

The wind farm is still on track to be built by February, according to a stock exchange filing by Goldwind, and the company said that it is seeking new partners for the project.

According to Goldwind's stock exchange filing, BP's management decided to end its wind presence in Asia, resulting in the halt of cooperation on the project.

BP has an existing 40MW wind farm at Dhule, northern Maharashtra, India, plus two others in the Netherlands. It has been reported as being interested in developing wind farms in Turkey, but its latest strategy suggests this will not be pursued.