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BP to sell renewable natural gas business Archaea Energy
['Jacob Wallace', 'Cole Rosengren', 'Senior Reporter']
Waste Dive - Latest News
BP has already received interest in buyers for the Archaea business, she noted.
It also noted the RNG space was quickly consolidating, with seven developers responsible for 60% of active projects.
BP’s acquisition of Archaea still represents the high-water mark of transaction value in the U.S. RNG space.
When BP acquired Archaea Energy, the company operated 50 RNG and landfill-gas-to-energy projects across the U.S. and had a pipeline of 80 projects in development.
Last year, BP executives said they expected Archaea Energy to reach positive cash flow by 2026.