Shell, the global oil and gas company, has divested partial ownership stakes in two renewable energy projects in the United States. Through its subsidiaries Shell Wind Energy and Savion Equity, Shell is selling a 50% stake in the 180 MW Madison Fields solar PV park in Ohio and a 60% stake in the 182 MW Brazos wind farm in Texas. The buyer is infrastructure investment manager InfraRed Capital Partners.

The Madison Fields solar project, currently under development, is expected to commence power generation by the end of the year. Power from this project will be contracted under an existing power purchase agreement (PPA) with a corporate off-taker. On the other hand, Shell will retain its position as asset manager for both projects.

The Brazos wind project will supply all of its power to Shell through its regional arm Shell Energy North America. Shell's move to sell partial ownership stakes aligns with its strategy to pursue dilutions in ownership from power interests while maintaining access to renewable electrons through selective off-take agreements. This approach allows Shell to take a disciplined approach within its renewables portfolio and focus on opportunities that integrate across the value chain through trading and optimization.

Shell has been adjusting its approach to renewable energy investments, aiming for more selectivity and integration across the value chain. The company has indicated a focus on key markets where it can generate high returns, aligning with its commitment to a disciplined and strategic approach to its renewables portfolio.