Shell sells European onshore renewable energy assets to TotalEnergies

Published Aug 3, 08:52 AM UTC

Shell has agreed to sell its European onshore renewable energy assets to TotalEnergies. The deal includes approximately 500 megawatts of operating or under-construction solar and wind assets. Shell stated it wants to focus its power business on energy solutions that combine renewable power with less intermittent hydrocarbon-based generation. The transaction reflects a strategic shift by Shell away from pure-play renewables in Europe, while TotalEnergies expands its renewable portfolio. The sale covers assets across multiple European countries, though specific financial terms were not disclosed. The move is part of Shell's broader strategy to streamline its power business and prioritize integrated energy solutions over standalone renewable projects.