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Click on the top to follow us (Bloomberg) – Shell Plc plans to sell leases it won to develop floating offshore wind farms off the coast of Scotland, as the oil major continues to roll back a once-ambitious expansion into renewable power. Shell CEO Wael Sawa The company wants to sell its share of projects in a joint venture with Iberdrola SA’s Scottish Power to develop as much as 5 gigawatts of floating offshore wind power plants, according to people familiar with the matter who asked not to be named because the matter is private. A spokesperson for Shell declined to comment. Scottish Power also declined to comment. The retreat by one of Britain’s biggest oil and gas companies underscores the challenge facing the UK government in developing floating offshore wind into a major industry, just as costs for the technology have increased. Since taking the helm at the beginning of last year, Chief Executive Officer Wael Sawan has refocused Shell on delivering profits to shareholders i
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