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 purchased capacity is already operational, and another 3.5 GW is still under construction.

The company’s president of gas, renewables, and power Stéphane Michel says TotalEnergies’ most recent acquisition will strengthen its ability to generate power in ‘key deregulated markets’ on the European continent.

The renewable energy portfolio sold to KKR comprises onshore wind and solar assets in Poland, Germany, France and Spain that are ‘largely developed,’ TotalEnergies says. The French firm reports that its European green energy portfolio now comprises close to 10 GW of under-construction or installed capacity and an extra 23 GW still in development.

In early 2026, TotalEnergies declared that it would not set a renewable transition plan after it reassessed its 2050 net-zero goals.

Shell has divested its entire European green energy portfolio to TotalEnergies just a month after it sold Spring Energy, its Indian renewable energy operation, to BlackRock-backed firm Aditya Birla Renewables Limited, for nearly $2 billion. Shell also sold off a substantial portion of its Volta EV charging network to Australian charger maker Jolt in late 2025.

In a press release published after the recent deal with TotalEnergies, the British firm’s president of downstream renewables and energy solutions, Machteld de Haan, said Shell is selling businesses that aren’t critical to its competitive strengths, and instead focusing its capital on businesses it believes will earn higher returns in the long term.

Details of the Shell-TotalEnergies deal still haven’t been disclosed. TotalEnergies signed off on purchasing Shell’s entire European green energy portfolio amidst an ongoing legal battle with a French court that ordered it to adapt its business to climate change goals.

The historic ruling declared TotalEnergies to be responsible, under the country’s corporate duty of vigilance law, for all the greenhouse emissions caused by its fuel products, an assertion TotalEnergies claims is against the freedom to conduct business and principles of legal certainty.

With oil majors like TotalEnergies expanding their footprint in the renewable energy space to join the likes of GeoSolar Technologies Inc., the energy transition could happen a lot faster than initial projections had suggested.

About GreenEnergyStocks

GreenEnergyStocks (“GES”) is a specialized communications platform with a focus on companies working to shape the future of the green economy. GreenEnergyStocks is one of 75+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, GES is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists, and the general public. By cutting through the overload of information in today’s market, GES brings its clients unparalleled recognition and brand awareness. GES is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from GreenEnergyStocks, text “Green” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.GreenEnergyStocks.com

Please see full terms of use and disclaimers on the GreenEnergyStocks website applicable to all content provided by GES, wherever published or re-published: https://www.greennrgstocks.com/Disclaimer

GreenEnergyStocks
Los Angeles, CA
www.GreenEnergyStocks.com
310.299.1717 Office
Editor@GreenEnergyStocks.com

GreenEnergyStocks is powered by IBN