Ed Zaelke Discusses BP Sale of Its US Wind Portfolio
Windpower Monthly interviewed Akin Gump global project finance co-head Ed Zaelke regarding BP’s announcement that it is selling its 2.6GW U.S. wind portfolio.
Zaelke said that BP’s timing of this operating assets sale is good enough. There is a general sense, the article notes, that projects with long-term power purchase agreements are being seen more and more as safe investments.
The article goes on to suggest that BP’s operating assets could be a bank or a pension fund, but that its undeveloped assets would only be bought by a major utility or other strategic player. Zaelke added that an overseas buyer is a “distinct possibility,” assuming it can monetize the production tax credit.