TotalEnergies Just Bought Shell’s Sun And Wind business in Europe
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Paris: French energy giant TotalEnergies has agreed to purchase Shell’s entire European onshore renewable energy business for an undisclosed amount, significantly expanding its clean energy footprint across the continent.
The major acquisition adds around four gigawatts of operational and pipeline solar, wind, and battery storage projects located in Italy, the Netherlands, Britain, and Spain.
Simultaneously, TotalEnergies announced a separate deal to sell a 50 percent stake in a 1.2-gigawatt European wind and solar portfolio to US private equity firm KKR, valuing those assets at 1.8 billion euros ($2.1 billion).
Management stated these combined moves optimize capital allocation while executing its broader integrated power strategy. TotalEnergies already operates or is building nearly 10 gigawatts of renewables in Europe, with another 27 gigawatts under active development.
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