Singular Bank| The Dutch energy company wants to sell its French floating wind business, Eolfi, acquired in 2019 to increase its weight in renewable energy in line with its strategy. However, it now wants to offer a higher return to shareholders. This is part of the strategy of the new CEO, Wael Sawan, to be announced in June, where he intends to eliminate activities that do not produce adequate returns. He has also announced a possible sale of its money-losing European energy retail business. Shell has a target to reduce carbon from energy sold by 20% by 2030 and by 100% by 2050, on 2016 levels. So far it has achieved a 3.8% reduction.
Shell to sell low-return businesses, including floating wind power firm Eolfi
