Shell Plc is reportedly preparing to sell 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 to lead the process, which could fetch over $1 billion, according to Bloomberg.
The move marks a further departure from the company’s past strategy to diversify into green electricity with a strong emphasis on wind energy.