BP PLC (NYSE:BP) disclosed the completion of a major technology upgrade at its Fowler Ridge 1 wind farm in Northwest Indiana for an investment of around $100 million.
The project involved the upgradation of 40 turbines, including installing 120 individual blades and 40 new nacelles.
The new Vestas turbines are projected to produce up to 40% more energy and are estimated to generate an average of 314,000 kilowatt-hours annually, which is enough renewable electricity to power around 27,000 homes.
“This project is a substantial upgrade for the wind farm and another investment in bp’s low-carbon energy future. It shows bp’s strategy in action – contributing to a more secure, affordable and lower carbon energy mix while pursuing our net zero ambition,” said Orlando Alvarez, chairman and president, bp America.
Also Read: BP Seeking Partners For Offshore Wind Projects In Japan: Report
Price Action: BP shares are trading higher by 0.94% at $35.94 on the last check Monday.
