TotalEnergies buys all of Shell’s European renewable energy assets
TotalEnergies' purchase of Shell's European onshore renewables portfolio (about 4 GW operational and in development) signals continued portfolio reshaping among integrated energy majors, while Total simultaneously sells 50% of a separate 1.2 GW renewables portfolio to KKR at a €1.8B valuation. The transactions highlight capital recycling and returns discipline in renewables, affecting how markets assess Shell's and peers' strategic positioning and asset valuations.
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The French multinational energy company will separately sell a 50% stake in a 1.2 GW renewables portfolio, valued at €1.8 billion ($2.07 billion), to investment firm KKR.