Shell Plc is preparing to sell its offshore wind farm portfolio for over $1 billion. The energy giant hired Rothschild & Co. and PJT Partners Inc. to manage the divestment process. The sale process is expected to begin by late 2026. A final transaction is projected for 2027.
CEO Wael Sawan is driving this strategic pivot to prioritize shareholder returns through profitable oil and gas operations. This move follows the recent sale of Shell's European onshore renewables arm. The divestment signals a departure from previous goals to lead the global renewable power sector.
The sale will leave Shell with a minimal green power portfolio, reinforcing its focus on core fossil fuel businesses. This realignment may impact investor sentiment for energy ETFs such as VDE and XLE.