BP sells 3 Texas wind turbine farms to Ares Management Corp
HOUSTON (AP) - 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.
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