Report: Shell plans to sell $1 billion worth of offshore wind assets, continuing to exit the renewable energy sector.

Shell is preparing to sell its offshore wind farms in order to refocus on its fossil fuel business with higher returns. According to sources, the company has hired Rothschild and PJT Partners Inc. as advisors to lead the sale, with the deal potentially exceeding $1 billion. The sale process could start as early as the end of this year, with the transaction likely to be completed by 2027. The plan to sell these offshore wind farms signals Shell's further departure from its previous strategy of diversifying towards green power.