Shell Plans $1 Billion Wind Farms Sale in Latest Renewables Exit

Shell Plc is preparing to launch a sale of its offshore wind farms in the oil major’s latest move away from renewable energy to focus on its higher-returning fossil fuel business.

The company has tapped advisers from Rothschild & Co. and PJT Partners Inc. to lead the sale, which could fetch over $1 billion, people familiar with the matter said, asking not to be named because they aren’t authorized to speak publicly. The process could kick off as soon as the end of this year, with a sale likely to take place in 2027, the people said.

Representatives for Shell, ...