LONDON, July 30 (Reuters) - British oil company BP has decided to keep its U.S. wind farm business, one of thelargest in the country, after four months in which it failed toattract a bid the company could accept, a spokesman said onTuesday.
"We didn't find an offer that we thought was the rightvalue," said the spokesman, citing guidance circulated bymanagement at the end of last week.
"Our feeling is that the business is more valuable to usthan to others. We had a number of bids, but we decided now isnot the right time to sell."
The sale was seen as a continuation of the retreat of bigoil companies from renewable energy investments while oil andgas projects offer them better returns.
It would also have helped fund BP's oil spill costs alongwith the $38 billion worth of assets it has already sold sincethe 2010 spill.
Bp has not put a value on the business but reports have saidthe sale could have raised a further $1.5 billion.
The assets include interests in 16 operating wind farms innine states with a combined generating capacity of around 2,600megawatts, as well as a portfolio of projects in various stagesof development.
BP reported second quarter results earlier on Tuesday.
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