Shell Sells European Onshore Renewables Portfolio to TotalEnergies

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Shell agreed to sell its European onshore renewables assets portfolio to TotalEnergies, focusing capital on high-value businesses. The portfolio includes renewable generation capacity and development projects across several European countries, pending regulatory approvals.

Shell has signed an agreement to sell its European onshore renewables portfolio to French peer TotalEnergies, the UK-based supermajor said on Monday as it prioritizes capital allocation into high-value businesses. The portfolio included in the transaction comprises 0.5 gigawatts (GW) of combined renewable generation capacity in operation and in development, as well as a pipeline of projects for future development across Italy, the Netherlands, Spain, and the UK. The transaction is subject to regulatory approvals and is expected to complete by the…