BP cancels sale of U.S. wind business

BP cancels sale of US wind business BP Alternative Energy North America

After an April announcement that it would look to sell its interests in 16 wind farms in the U.S., BP is no longer looking to sell its U.S. wind power portfolio, according to a report from SNL Financial.

“Despite receiving a number of bids, the company has determined that now is not the right time to sell the business,” BP spokesman Matt Hartwig told SNL in an email. “Our focus will remain on safely maximizing the financial and operational performance of the existing assets.”

BP subsidiary BP Alternative Energy North America Inc. had previously said it was marketing its wind portfolio in order to focus on its oil and gas holdings, according to the report.

After the announcement, the U.S. Department of the Interior approved the Mohave County Wind Farm, an Arizona wind power project proposed by BP Wind Energy North America with a capacity of up to 500 MW.

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