Chevron Makes It Official With Sale of Renewable-Energy Unit

Chevron (CVX) 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.