A Strategic Retreat from Renewables
Shell is preparing to sell its portfolio of offshore wind farms. The transaction could exceed $1 billion. This move marks the company’s most significant retreat from renewable energy to date.
The British energy giant has mandated Rothschild & Co and PJT Partners to manage the sale process. According to Bloomberg News, which cited unnamed sources, the process could begin as early as the end of this year. The deal is expected to close in 2027.
Deeper Cuts Under CEO Wael Sawan
This divestment follows a pattern of withdrawals from renewables under CEO Wael Sawan. Sawan took the helm in January 2023. Since then, he has progressively steered Shell back toward its core oil and gas business.
In November 2025, Shell pulled out of the MarramWind and CampionWind projects off the coast of Scotland. The company sold its 50% stake in MarramWind to ScottishPower Renewables. It also returned the CampionWind lease to Crown Estate Scotland.
Earlier that year, Shell recorded a nearly $1 billion impairment charge. That charge was linked to its exit from the Atlantic Shores offshore wind project off the coast of New Jersey.
A Shell spokesperson previously stated that the Scottish exits aligned with the company’s “previously communicated strategy to focus on its strengths in trading and retail.”
An Industry-Wide Pullback
Shell is not alone in reducing its renewable energy ambitions. Other European energy majors are following similar paths.
BP is reportedly considering selling 50% stakes in solar and wind assets across France, Germany, Spain, and Poland. That deal could be valued at over $100 million.
In March, TotalEnergies also withdrew from offshore wind projects in the United States worth nearly $1 billion.
This industry-wide retreat comes as investors question the profitability of low-carbon investments. Many now argue that traditional oil and gas operations offer superior returns.
At Shell’s annual general meeting in May, shareholders rejected a climate activist resolution. CEO Sawan defended the strategy, stating that oil demand would remain “indispensable for decades.”
What Happens Next
The planned sale represents one of the most concrete steps in Shell’s strategic pivot. It would unwind years of investment in offshore wind.
The process remains in its early stages. The final value will depend on market conditions and buyer interest in 2027. Shell has not publicly commented on the planned sale.
