Deals

Chevron Makes It Official With Sale of Renewable-Energy Unit

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

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September 2, 2014 at 5:02 PM EDT

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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.

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