Shell Plans to Launch $1b Wind Farm Sale

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Shell is preparing to launch a sale of its offshore wind farms that could fetch more than $1 billion, in the oil giant's latest move away from renewable energy, Bloomberg News reported on Friday, citing people familiar with the matter.

The company has tapped advisers from Rothschild & Co and PJT Partners Inc to lead the sale, likely to take place in 2027, the report said.

Shell declined to comment on the report. Rothschild and PJT did not immediately respond to Reuters' requests for comment. Reuters could not independently verify the report.

Under CEO Wael Sawan, Shell is aiming to curb the company's low-carbon projects to focus on liquefied natural gas trading and upstream.

Shell had said in February it is reviewing strategic options for its India-based Sprng Energy renewable power unit.

(Reuters)