Macquarie eyes Shell's European onshore renewables, sources say

MILAN/LONDON/PARIS, March 18 (Reuters) - Macquarie ​Group has expressed early interest in bidding for Shell's European onshore renewable ​energy ‌business, according to people familiar with the matter, assets that could ⁠be valued at more than 1 billion ⁠euros ($1.15 billion), another ​person said.

Shell is preparing to launch an auction for the assets in coming weeks, two of the sources said, as CEO ​Wael ‌Sawan continues to scale back the company's low-carbon operations in favour of liquefied natural gas and upstream businesses.

Macquarie and Shell declined to comment.

Here are the key details:

* Shell's ​European onshore renewables could fetch 1billion -1.5 billion euros ($1.15-1.73 billion), ‌one of the sources said

* At end-2025, Shell had about 1.1 gigawatts of ‌renewable power capacity in operation in Europe and around 600 megawatts in development

* Onshore assets are expected to be sold ​first, the same source said, potentially paving the way for a subsequent disposal ‌of Shell's European offshore renewables unit

* Macquarie has not made a final decision to bid; other potential bidders are ⁠expected to ⁠review the portfolio once the process launches

* ‌Shell has renewable projects in the Netherlands, Italy, the UK and Spain

* ​The ​divestment follows Shell's February announcement of a strategic ‌review of its India-based renewable unit, Sprng Energy ($1 = 0.8668 euros) (Reporting by Elvira Pollina, Andres Gonzales, Mathieu Rosemain Additional reporting by Stephanie Kelly; Editing by Kirsten Donovan)

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