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Shell sells European onshore renewable energy assets to TotalEnergies
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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.
Source report
Shell has agreed to sell its European onshore renewable energy assets to TotalEnergies, the company announced on Monday.
The deal includes approximately 500 megawatts (MW) of solar and wind assets that are either currently operating or under construction.
Shell stated that the divestment aligns with its strategy to focus its power business on energy solutions that combine renewable power with less intermittent hydrocarbon-based generation.
Photo: Reuters
Source
The Business TimesNeutral / independent
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Shell sells European onshore renewables portfolio to TotalEnergies