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Update: Market Chatter: Shell Plans Sale of Offshore Wind Farms

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(Updates with company response in the fourth paragraph.)

Shell (SHEL) is planning to begin the sale of its offshore wind farms for over $1 billion by the end of this year as the company prioritizes its fossil fuel business, Bloomberg reported Friday, citing people familiar with the matter.

The company has engaged Rothschild & Co. and PJT Partners to lead the sale, according to the report.

The transaction is likely to take place in 2027, sources told the media outlet.

Shell declined to comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: $86.21, Change: $+0.36, Percent Change: +0.42%

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