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Chevron Makes It Official With Sale of Renewable-Energy Unit

Chevron Energy Solutions solar panels atop former landfill in the city of Dinuba, Calif.
Chevron Energy Solutions solar panels atop former landfill in the city of Dinuba, Calif.Photograph by Chevron Energy Solutions vi PRNewsFoto

Chevron has finalized the sale of its renewable-energy subsidiary, Chevron Energy Solutions, to OpTerra Energy Services, a Chevron spokesman confirmed on Tuesday.

The sale, on Aug. 29, marks the latest in a series of moves away from renewables by the oil company. Earlier this year, Chevron sold a 48-person division that builds renewable projects and energy-savings retrofits for federal agencies such as the U.S. Department of Defense.