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Shell Sells European Onshore Renewables Portfolio to TotalEnergies
The deals add 4 GW of assets and give TotalEnergies a 50% stake sale valued at €1.8 billion, the company said.
- TotalEnergies announced two major European transactions, acquiring Shell's onshore renewables business while selling a 50% stake in a 1.2 GW asset portfolio to KKR for an enterprise value of €1.8 billion.
- These agreements align with TotalEnergies' business model of selling 50% stakes in developed renewable assets, designed to optimize capital allocation while deploying its Integrated Power strategy across Europe.
- The Shell acquisition includes 500 MW of solar and wind assets in operation or construction, plus a 3.5 GW pipeline of solar, wind and battery storage projects in Italy, the Netherlands, the United Kingdom, and Spain.
- Under the KKR agreement, TotalEnergies will retain a 50% stake in assets across Germany, Spain, France and Poland, continuing to operate the facilities after the transaction completes in 2026.
- With more than 37 GW of gross renewable power generation capacity, TotalEnergies aims to reach a ROACE of 12% by 2030 through these strategic transactions.
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Shell sells European onshore renewables to TotalEnergies
Shell is selling its onshore European renewables unit to TotalEnergies , the companies said Monday, as the British oil major continues to scale back its low-carbon investments to focus on upstream operations and trading.
·London, United Kingdom
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(Paris=Yonhap News) Correspondent Song Jin-won = French energy giant Total Energy is acquiring British Shell's entire onshore renewable energy portfolio in Europe.
·Seoul, Korea (the Republic of)
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Total News Sources56
Leaning Left7Leaning Right9Center12Last UpdatedBias Distribution43% Center
Bias Distribution
- 43% of the sources are Center
43% Center
L 25%
C 43%
R 32%
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