BP announced earlier today that it’s “divesting” from the controversial Cape Vincent project it’s been working on for nearly a decade. Our reporter Joanna Richards is working on the story, but here’s a statement Joanna received from BP spokesperson Jason Ryan:
Last year, BP announced its intention to divest its wind energy development portfolio.
BP Wind Energy is concluding the divestment of the remaining assets in its wind development portfolio, and proceeding to terminate our position in the Cape Vincent, NY wind farm. With this termination, Cape Vincent Wind Power LLC, will withdraw from the New York State Article 10 permitting process and will wind down all of its contracts and agreements for the project. We expect this to be completed in the coming months.
BP has spent the last six years working with a wide range of stakeholders and community groups in Cape Vincent and throughout Jefferson County on the proposed wind farm. We thank them for their engagement and co-operation during this time.
The terms of divested assets are confidential.
BP is retaining operating wind farms in its portfolio at this time. Our focus remains on ensuring safe and reliable operations, and on maximizing the financial and operational performance of the existing assets.