Shell
About
A London-headquartered energy group that holds offshore wind in its Renewables and Energy Solutions segment, beside Integrated Gas, Upstream, Marketing and Chemicals and Products. It built offshore wind positions in the Netherlands, the UK and the US through joint ventures, among them 79.9% of Hollandse Kust Noord and half shares in two Scottish floating projects and Atlantic Shores. In 2024 it refocused its power strategy on storage, flexible generation and trading, minimising new offshore wind investment. It has sold its SouthCoast Wind interest, handed its Atlantic Shores stake to EDF in October 2025 and left both Scottish floating projects in November 2025. It still has offshore wind in operation in the Netherlands, where a 2025 Google power purchase agreement extends the NoordzeeWind farm's life. Offshore wind is now an operating holding inside a power business built around storage, flexible generation and trading.
Outlook
as of 2026-10Portfolio
11 held + 5 exited · live stages first, exits lastCapacity is net of ownership stake: a 50% JV counts half. Gross exposure (full nameplate of every project held): 19.4 GW.
| Project | Country | Stage | MW | Stake | Net MW |
|---|---|---|---|---|---|
| Hollandse Kust Noord | Netherlands | Operational | 759 | 79.9% | 606 |
| Borssele 3 & 4↓ farmed down | Netherlands | Operational | 732 | 20% | 146 |
| Egmond aan Zee (OWEZ) | Netherlands | Operational | 108 | 100% | 108 |
| Ecowende (Hollandse Kust West Site VI) | Netherlands | Under Construction | 760 | 60% | 456 |
| Shell Pecém Offshore Wind | Brazil | Proposed | 3000 | 100% | 3000 |
| Shell Galinhos Offshore Wind | Brazil | Proposed | 3000 | 100% | 3000 |
| Shell Açu Offshore Wind | Brazil | Proposed | 3000 | 100% | 3000 |
| Shell White Shark Offshore Wind | Brazil | Proposed | 3000 | 100% | 3000 |
| Shell Offshore Wind Piauí | Brazil | Proposed | 2520 | 100% | 2520 |
| Shell Ubu Offshore Wind | Brazil | Proposed | 2520 | 100% | 2520 |
| CampionWind | United Kingdom | Cancelled | 2000 | 100% | 2000 |
| Atlantic Shores South (Projects 1 and 2) | United States | Divested 2025-11 | 2800 | 50% sold | — |
| MarramWind | United Kingdom | Divested 2025-11 | 3000 | 50% sold | — |
| SouthCoast Wind | United States | Divested 2024-03 | 2400 | 50% sold | — |
| Western Star | Ireland | Divested 2022-09 | 1350 | 51% sold | — |
| Emerald | Ireland | Divested 2022-09 | 1300 | 51% sold | — |
Divested & farmed down
every recorded sale by this developer · newest first| Announced | Project / portfolio | Type | Stake sold | €m | Buyer |
|---|---|---|---|---|---|
| 2025-11 | Atlantic Shores South (Projects 1 and 2) | acquisition | 50% | — | EDF Renewables |
| 2025-11 | MarramWind | acquisition | 50% | — | ScottishPower Renewables |
| 2024-03 | SouthCoast Wind | acquisition | 50% | — | Ocean Winds |
| 2022-09 | Western Star | withdrawal | 51% | — | — |
| 2022-09 | Emerald | withdrawal | 51% | — | — |
| 2018-01 | Borssele 3 & 4 | farmdown | 45% joint | — | Partners Group |
Ownership history comes from the transaction database; the portfolio above is the current snapshot only. "Joint" stakes are the consortium total (per-seller split not disclosed) and are excluded from the stake-weighted GW figure.
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