Shell plans to offload its 49 per cent stake in Australian onshore wind farm developer WestWind just three years after buying it, as the energy giant seeks to lock in increased value for the fast-growing business and recycle capital into new, early-stage projects.
The multinational, which has significantly broadened its business in Australia beyond its core gas assets, is understood to have reluctantly agreed to join WestWind Energy Development’s founding shareholders in seeking a sale of the business. That means the entire company is on the block in a sale, which is being managed by Lazard.
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