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Shell sells European onshore renewables to TotalEnergies
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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.
Source report
Shell has agreed to sell its European onshore renewable energy assets to TotalEnergies, in a deal that includes approximately 500 megawatts of operating or under-construction solar and wind assets.
The transaction reflects Shell's strategic shift to focus its power business on energy solutions that combine renewable power with less intermittent hydrocarbon-based generation.
Image credit: REUTERS
Source
The Business TimesRegional
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Shell sells European onshore renewables portfolio to TotalEnergies