Shell Plc plans to sell leases it won to develop floating wind farms off the coast of Scotland as the energy giant continues to retreat from an expansion into renewable power, according to a Bloomberg report.

Shell wants to sell its share of projects in a joint venture with Iberdrola’s Scottish Power to develop as much as 5 gigawatts of floating wind power plants, according to the Bloomberg report, which cites people familiar with the matter.

A spokesperson for Shell declined to comment. Scottish Power also declined to comment.

The report said that since taking the helm at the beginning of last year, Shell CEO Wael Sawan has refocused the company on delivering profits to shareholders in what he has called a “ruthless” approach.

The company is now more focused on getting access to low-carbon electricity for its own use and for trading rather than making investments to build large-scale renewable power that can take years to generate returns, Bloomberg reported.