Shell Restructures Energy Division, Halts New Offshore Wind Investments - Report

With a strategic shift, Shell is splitting its energy division into two separate units and has decided to halt investments in new offshore wind projects. This move has been confirmed by a company spokesperson who detailed the restructuring of Shell Energy into separate units focused on energy production and trading.

The spokesperson stated, "We will not be leading new offshore wind developments, but we continue to engage in power purchase agreements when commercial conditions are acceptable, and we remain cautiously open to equity positions if there is a compelling investment rationale."

This decision indicates that Shell is adopting a more selective approach in its future project participations, particularly in the offshore wind sector where the company will not take a lead role in new developments. However, Shell has not completely closed the door on participating in such projects through power purchase agreements or equity investments, provided that commercial conditions are favorable and the investment rationale is strong.