Dan Sinaiko Discusses BP’s Cancellation of Wind Assets Sale with Windpower Monthly
For its article “BP and its 2.6GW uturn,” Windpower Monthly interviewed Akin Gump global project finance partner Dan Sinaiko on BP’s unexpected decision to cancel the sale of its U.S. wind assets.
Commenting on the interest level for the asset sale, Sinaiko noted, “I believe that the most of the major IPPs (independent power producers) and utilities were looking at the assets."
Among other topics, he noted that the asset portfolio was not ideal, but that the market, with low interest rates and a scarcity of assets for sale, has been good: “What's puzzling is that they had to understand their assets were flawed and that they are not likely to see a better price [in the near future]. I would be surprised if the assets are back on the market in the short-term.” He did add, regarding prospective buyers, “There are not that many players out there that could swallow the whole portfolio.”