Shell has signed an agreement to sell its onshore renewable energy business portfolio in Europe to the French energy company TotalEnergies.
The transaction, which is expected to be completed by the end of the year, remains subject to regulatory approvals.
Following the completion of the deal, the entire portfolio will pass to the control of TotalEnergies.
The portfolio acquired from Shell comprises approximately 500 megawatts of solar and wind power plants that are either under construction or already in operation, with the majority located in the Netherlands and Italy.
3.5 GW
Total capacity of solar, wind, and battery storage projects currently being developed in Spain, the UK, and Italy.
The agreement also encompasses solar, wind, and battery storage projects currently under development in Italy, the UK, and Spain with a total capacity of 3.5 gigawatts.
TotalEnergies is selling a stake to KKR.
Updates
The transaction involving Shell's onshore renewable energy portfolio is expected to conclude by the end of 2026, although this timeline remains disputed. The 1.2 gigawatt solar and wind portfolio being sold to KKR, spanning Germany, Spain, France, and Poland, is valued at 1.8 billion euros including debt. Additionally, Shell's renewable energy and energy solutions division reported adjusted earnings of $79 million last quarter, a significant increase from the $9 million loss recorded in the same period last year.
The transaction involving Shell's onshore renewable energy portfolio is expected to be completed by the end of 2026, though this timeline remains disputed. Additionally, Shell's adjusted earnings in its renewable and energy solutions division rose to $79 million last quarter, up from a $9 million loss in the same period last year. The 1.2 gigawatt solar and wind portfolio being sold to KKR is valued at 1.8 billion euros, including debt.
The transaction for the 1.2 gigawatt solar and wind portfolio is set at a total value of 1.8 billion euros, including debt. While the deal's completion date is disputed, it is expected to be finalized by the end of 2026. Additionally, Shell's renewable energy and energy solutions division reported an adjusted profit of $79 million last quarter, a significant turnaround from the $9 million loss recorded in the same period last year.
The deal involves TotalEnergies selling a 50% stake in a 1.2 gigawatt solar and wind portfolio across Germany, Spain, France, and Poland to KKR for a total value of 1.8 billion euros, including debt. While the transaction's completion is disputed for the end of 2026, Shell’s renewable energy and energy solutions division reported an adjusted profit of $79 million last quarter, a significant turnaround from the $9 million loss recorded in the same period last year.
The sale of Shell's European onshore renewables portfolio to TotalEnergies is valued at several hundred million euros and represents a change in control of approximately 4 gigawatts of capacity. While the deal's completion is disputed, it is expected to be finalized by the end of 2026. Separately, TotalEnergies is also set to sell 50% of a 1.2 gigawatt solar and wind portfolio in Germany, Spain, France, and Poland to KKR for 1.8 billion euros, including debt.
The transaction involving Shell's onshore renewables portfolio represents a change in control of approximately 4 gigawatts of capacity and is estimated by a source close to the deal to be worth several hundred million euros. While the deal's completion date is disputed, it is expected to be finalized by the end of 2026. Additionally, Shell's renewable energy and energy solutions division reported an adjusted quarterly profit of $79 million, a significant turnaround from the $9 million loss recorded in the same period last year.
The acquisition of Shell's onshore renewable portfolio, which represents a change in control of approximately 4 gigawatts of capacity, is expected to be completed by the end of 2026 according to disputed reports. Separately, TotalEnergies is selling a 50% stake in a 1.2 gigawatt solar and wind portfolio in Germany, Spain, France, and Poland to KKR for a total value of 1.8 billion euros, including debt. While Shell's renewable energy division reported an adjusted profit of $79 million last quarter compared to a $9 million loss last year, the company is also adjusting its strategy through these asset transfers.
