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 BPs 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.