INSIDE ALASKA BUSINESS.

BP | Hilcorp

BP has agreed to sell its entire business in Alaska to Hilcorp Alaska. Under the terms of the agreement, Hilcorp will purchase all of BP's interests in the state for a total consideration of $5.6 billion. The sale will include BP's entire upstream and midstream business in the state, including BP Exploration (Alaska) Inc., that owns all of BP's upstream oil and gas interests in Alaska, and BP Pipelines (Alaska) Inc.'s interest in the Trans Alaska Pipeline System (TAPS). Subject to state and federal regulatory approval, the transaction is expected to be completed in 2020.

Approximately 1,600 employees are currently associated with BP's Alaska business and BP is committed to providing clarity about their future as soon as possible as part of the transition process with Hilcorp.

Hilcorp has been operating in Alaska since 2012 and is today the largest private oil and gas operator in the state, currently operating more than 75,000 barrels of oil equivalent a day gross production.

bp.com/us | hilcorp.com

Anchorage Fracture & Orthopedic Clinic

Anchorage Fracture & Orthopedic Clinic has opened a new Eagle River clinic. In addition to specialized bone, joint, and muscle care and consultation, this new location also offers orthopedic urgent care; onsite X-ray imaging; and physical therapy.

afoc.com

MOA

Anchorage Mayor Ethan Berkowitz unveiled the city's largest solar project to date, the installation of 216 solar panels on top of the Egan Center in Anchorage. With an expected lifespan of thirty years, this project is expected to save $21,000 in electricity costs in the first year and nearly $700,000 during its lifetime.

This $200,000 project was paid for out of the Convention Center Capital Reserve Fund, a pool of money reserved for capital improvements from the Convention Center Room Tax Fund. This is the largest rooftop solar array in Alaska. The expected payback on the project is about seven years.

muni.org

ORPC

The Igiugig Village Council and ORPC celebrated the launch of ORPC's commercial RivGen Power System, a sustainable solution now available to remote river communities in Alaska and worldwide.

ORPC's first commercial device is a 40 kW power system that will provide up to one-half of the Igiugig community's electricity needs annually and will reduce the use of expensive and environmentally risky diesel fuel. Plans are underway for installation of a second RivGen device in conjunction with smart microgrid electronics and energy...