Shell Plc is preparing to sell its offshore wind farm portfolio in a deal valued at over $1 billion, according to Bloomberg. The energy giant has reportedly hired Rothschild & Co. and PJT Partners Inc. to manage the divestment process. The sale is expected to begin by the end of 2026, with a final transaction likely occurring in 2027.
This move reflects a strategic pivot under CEO Wael Sawan to move away from lower-returning renewable projects. The company is refocusing resources on its more profitable core fossil fuel operations. This planned exit follows the previous sale of Shell’s European onshore renewables division.
The decision signals a departure from the company's former ambition to lead global renewable power generation. Industry analysts suggest the move could influence how other major energy firms evaluate the long-term risks and profitability of large-scale offshore wind developments.