BP sells 3 Texas wind turbine farms to Ares Management Corp

HOUSTON — Oil and gas producer BP has sold three of its Texas wind farms to funds managed by affiliates of Los Angeles-based private equity firm Ares Management Corp.

London-based BP says the deal includes its Silver Star, Sherbino Mesa 2 and Trinity Hills turbine farms. Terms of the sale, announced Friday in Houston, weren't released.

Silver Star is about 100 miles (160 kilometers) southwest of Fort Worth. Sherbino Mesa 2 is located 40 miles (64 kilometers) west of Fort Stockton. Trinity Hills operates 50 miles (80 kilometers) southwest of Wichita Falls.

BP says it wants to optimize and upgrade its other American turbine farms. It still will have interest in 11 wind farms in eight U.S. states.

Related News

Clinton offers plan to prevent 'excessive' drug price hikes

Sep 2, 2016

Hillary Clinton is pledging to better protect patients from steep increases in the cost of drugs

Put it on my card...or not

Sep 4, 2016

What to consider before paying for college tuition with a credit card

ITT Tech shutters all campuses after federal aid sanctions

Sep 6, 2016

The for-profit college chain ITT Educational Services is shutting down its campuses days after the U.S. Department of Education banned it from enrolling new students who use federal financial aid

About PROFIT & COST

Profit and Cost is the personal business & financial assistance for individuals considering to improve their profits and lowering the cost in their everyday life.

Contact us: sales@profitandcost.com