Shell sells European onshore renewables to TotalEnergies

Published Aug 3, 08:52 AM UTC

Shell has agreed to sell its European onshore renewable energy assets to TotalEnergies, according to a report by The Business Times. The deal encompasses approximately 500 megawatts of solar and wind assets that are either currently operating or under construction. Shell stated that the divestment aligns with its strategy to refocus its power business on energy solutions that integrate renewable power with more reliable hydrocarbon-based generation. The transaction highlights a shift in Shell's approach to the European renewable energy market, as it prioritizes hybrid energy systems over standalone renewable projects. TotalEnergies, a major French energy company, will acquire these assets, expanding its renewable portfolio in Europe. The sale reflects ongoing consolidation and strategic realignment in the global energy sector as major oil and gas companies navigate the transition to cleaner energy sources.