Shell could walk away from offshore wind in $1B+ sell-off

6 hours ago

Shell plans to sell offshore wind farm assets, potentially raising over $1 billion, with a sales process expected around 2027, advised by Rothschild & Co and PJT Partners.
Under CEO Wael Sawan, Shell is shifting focus towards oil, gas, and LNG, becoming more selective about renewables, as evidenced by recent exits from multiple offshore wind projects globally.
Despite Europe's ongoing need for offshore wind expansion, with significant capacity and policy support, Shell's move signals a strategic bet on LNG for better returns over wind investments.
The assets Shell is exiting, such as Atlantic Shores and Scottish projects, may continue development with other stakeholders, indicating the projects aren't necessarily halted by Shell's withdrawal.

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