Shell Divests its European Renewables Assets to TotalEnergies
British oil and gas multinational Shell has sold all of its European renewable energy assets to TotalEnergies. The French energy firm will take over nearly 4 gigawatts of in-development and operational solar and onshore wind generation from Shell. Simultaneously, TotalEnergies has announced that it is divesting a 50% stake in a separate 1.2 GW, $2.07 billion renewable portfolio to American investment firm KKR. TotalEnergies’ deal with Shell grants it total control over the British firm’s wind, solar, and battery assets in the United Kingdom, the Netherlands, Spain, and Italy. According to a press release from TotalEnergies, 500 megawatts of the…
