Shell to Sell Offshore Wind Farms for $1 Billion, Shifting Focus Back to Fossil Fuels
By
Will Mathis, Vinicy Chan
Summary
Shell Plc is preparing to sell its offshore wind farms for over $1 billion, marking its latest exit from renewable energy to refocus on its more profitable fossil fuel business. The company has hired Rothschild & Co. and PJT Partners Inc. to lead the sale, which could launch by end of 2025 and close in 2027.
Source
bskyShell to Sell Offshore Wind Farms for $1 Billion, Shifting Focus Back to Fossil Fuelsbloomberg.comKey quotes
· 3 pulledShell Plc is preparing to launch a sale of its offshore wind farms in the oil major's latest move away from renewable energy to focus on its higher-returning fossil fuel business.
The company has tapped advisers from Rothschild & Co. and PJT Partners Inc. to lead the sale, which could fetch over $1 billion.
The process could kick off as soon as the end of this year, with a sale likely to take place in 2027.
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