Shell Said to Plan Sale of French Floating Wind Power Unit Eolfi

Shell Plc is seeking to sell French floating wind developer Eolfi, a potential retreat from one element of its renewable power plans as new Chief Executive Officer Wael Sawan pushes to deliver greater value to shareholders.

The oil major is exploring the sale just a few years after it acquired Eolfi, according to people familiar with the matter, who asked not to be named because the matter is private. The decision comes as Sawan applies a “ruthless” focus on how Shell spends its money to boost returns.

A spokesman for Shell declined to comment.

The potential sale ...