Shell's US solar unit launches asset sale

NEW YORK, Feb 29 (Reuters): Shell's US solar business Savion has put around a quarter of its assets up for sale, according to a marketing document and industry sources, as the oil major extends a retreat from owning renewables projects under CEO Wael Sawan.
Investment bank Jefferies is running the sale of up to 10.6 gigawatts (GW) of solar generation and storage assets currently in development, or parts of those projects, according to the document sent to potential investors and seen by Reuters.
The total value of the assets, located in the northeast, southeast and west of the United States, was unclear. Project valuations often depend on power prices where they are located.
Spokespeople for Shell and Jefferies declined to comment. Savion is developing 39.1 GW of solar and storage projects, and has completed sites with capacity of more than 2.3 GW, according to its website.