Shell Aims to Sell Scottish Wind Sites in Green Energy Reversal
- Shell wants to invest less in expensive offshore wind projects
- UK needs to draw record investment to hit green power goals
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Shell Plc plans to sell leases it won to develop floating wind farms off the coast of Scotland, as the oil major continues to roll back a once-ambitious expansion into renewable power.
The company wants to sell its share of projects in a joint venture with Iberdrola SA’s Scottish Power to develop as much as 5 gigawatts of floating wind power plants, according to people familiar with the matter who asked not to be named because the matter is private.